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Brazil is 'high growth area' for oil and gas

Date added: 25th January, 2010 at 09:28
(view all articles from January, 2010)

Categories: Natural Resources

Aveva has announced it plans to make a further investment in Brazil as it looks to capitalise on the opportunities offered by the country's natural resources.

The engineering data company said the Latin American country had benefited from the discovery of new oil resources.

A statement read: "Brazil remains a high growth area for us where we see continued opportunity within the oil and gas market."

The company said to meet the needs of its customers in the country it would expand its offices in Brazil.

During 2009, oil production in Brazil increased by 6.3 per cent compared to 2008 figures, said Brazilian oil company Petrobras.

An average of 1.971 million barrels per day were produced in 2009, compared to 1.855 million the year before, reports the Wall Street Journal.

Petrobras's international oil production was also up from 123,600 barrels a day in 2008 to 140,600 barrels a day.ADNFCR-1477-ID-19574642-ADNFCR

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