Petrobras plans $73bn investment in Brazil
Date added: 3rd May, 2011 at 10:04
(view all articles from May, 2011)
Categories: Natural Resources
Petrobras has announced its intentions to invest in Brazil to the tune of $73 billion (£43.9 billion) by 2015.
The state-owned energy company yesterday (May 2nd) stated that it had completed its yearly review of the Integrated Development Master Plan for the Santos Basin Pre-Salt Area (Plansal).
By 2015, the company hopes its investments will have paid off, projecting output of 613,000 barrels of oil per day.
The review saw the amount of money the firm intends to pour into Plansal fall to 45 per cent of the figure predicted in 2008's Master Plan.
Petrobras explained this change had been made partly because of the increased productivity of wells.
Despite lowering its investment in the project, the company's expectations for output in 2015 were upped by 108,000 barrels of oil per day compared with the last plan.
Petrobras does not focus solely on oil but also produces biofuels and natural gas, while investigating the potential of solar, wind, hydrogen and water to generate power.
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