Petrobras Eyes Deep Offshore Shift In 2020

(Reuters, 19.Nov.2019) — Brazil’s state-owned oil firm Petroleo Brasileiro SA expects deep offshore areas to account for 88% of its exploration and production activities next year, up from 55% currently, an executive for the company said on Tuesday.

The major shift to deep offshore areas will correspond with onshore exploration and production falling to 10% of Petrobras’ activities from 37% currently, while shallow waters will account for 2%, down from 8% at present, said Roberto Ardenghy, executive director of institutional relations.

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