Brazil

With Brazil enacting South America’s first carbon capture and storage (CCS) law, this article examines the technical and regulatory architecture required to scale CCS deployment and provides exclusive insight into Brazil’s accelerating CCS landscape.

BP called the Bumerangue discovery in the Santos Basin the company’s largest find in 25 years, and announced it had begun production from its tieback project at Argos ahead of schedule.

Shell became the first international company to operate producing fields offshore Brazil and the first to navigate the country’s complex and detailed decommissioning permitting process, which involved extensive environmental assessments, regulatory approvals, and coordinated stakeholder engagement.

Once labeled “undrillable,” Brazil’s heavy-oil Atlanta field in the Santos Basin faced technical, financial, and logistical challenges. But through a phased approach, clever reuse of assets, and disciplined project execution, Brava Energia transformed a risky deepwater asset into a producing field with 172 million BOE in 2P reserves.

FPSO is the fourth unit to go online in the deepwater pre-salt Mero field in 3 years.

Operator targets first oil 30 months after field sanction of $1.5 billion heavy-oil project that will use a refurbished wellhead platform and FPSO.

Brazil’s ANP extends BW Energy’s contract for the deepwater field from 2031 to 2042, and BW plans to further develop the field.

In the next 3 to 5 years, South America and the Middle East will lead global investment, driven by greenfield developments, exploration, and midstream infrastructure. Brazil’s growth is fueled by deepwater pre-salt projects, while the Middle East focuses on gas and LNG, especially in Qatar, Saudi Arabia, and the UAE.

The company said that quitting its solar and onshore wind power generation projects in Brazil is part of a "portfolio adjustment."

Operator targeting 2029 for first production from the pre-salt gas-condensate discovery off Brazil.