- The upstream competitive landscape in Brazil has significantly shifted where the regionally focused independents and private equity-backed E&P players have actively been acquiring assets, primarily onshore and shallow water, from National Oil Company (NOC) Petrobras's (PBR) divestment program.
- Following the announcement of the Albacora Leste field sale to PetroRio S.A. for about US$2 billion in May 2022, the total divestment for Petrobras under the current program has reached about US$6 billion till date.
- Petrobras has a capital budget of $68 billion between 2022 and 2026, with 84% for the E&P segment, primarily in pre-salt areas including Buzios, Tupi, Sepia, Atapu, Itapu, and Sururu etc.
For further details see:
Brazil: A Country For New And Established E&P Players' Growth Prospect