Brazilian oil production will peak in 2029

Recently, Petrobras said that it expects Brazil's oil production to peak in 2029
.
By then, Petrobras will produce 5.
4 million barrels per day, up 200,000 barrels from the previous forecast of 5.
2 million barrels
.

The forecast for peak oil production in Brazil comes from a report prepared jointly by the Brazilian Energy Agency and the Brazilian Ministry of Mines and Energy, which complements
the preparation of Brazil's energy expansion plan for the next 10 years.
The report predicts that Brazilian oil production will fall back to 4.
9 million barrels per day from its peak in 2029 by 2032, when 80% of oil production will come from pre-salt fields
.
The report proposes that in addition to updating the development plan for the Buzios field in the Santos Basin, new fields in the Campos Basin and the Sercipe-Alagoas Basin will also come on stream
.
In addition, Brazil's natural gas production will reach 137 million cubic meters per day in 2032, up from
the previous forecast of 134 million cubic meters.
This is mainly due to the commercial operation
of new gas fields in the Paranavaí Basin, Portigual Basin and Campos Basin.