Brazil Oil & Gas Investments Forecasted to Reach $83.5 Billion by 2032

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Written by Amir Richani for IIR News Intelligence (Sugar Land, Texas)

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Summary

Brazil's government forecasts 432 billion reais (US$83.5 billion) in oil and gas investments by 2032, driven by oil development and production. The government forecasts 1.2 trillion reais (US$232 billion) in investments in energy, transmission, mining and data centers by 2032.

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Brazilian Investments Target Crude Oil

The government expects oil and gas investments to reach 432 billion Brazilian reais (US$83.5 billion) and generate 2 million jobs by 2032. Approximately 93% of the forecasted investments will target oil development and production, while 3% is for midstream capacity, 2% for downstream activities and the rest for natural gas.

Authorities estimate that oil and gas investments between 2025 and 2035 could reach 2.8 trillion reais (US$541 billion) during that period.

Among the key upstream projects expected to be developed by 2032 is Equinor's Raia pre-salt development, which is projected to begin production by 2028 and add some 126,000 barrels per day (BBL/d) of new capacity. Subscribers to Industrial Info's Global Market Intelligence (GMI) Oil & Gas Production Project Database can view the detailed project reports.

Meanwhile, in the midstream segment, Nova Transportadora do Sudeste will lead several developments to transport oil and gas production and expand processing capacity. Among the projects are the Integration of Pre-Sal Sul, which includes compression plants and 300 kilometers of gas pipelines, as well as the Macae Gas Compressor Station.

These investments are part of the Ministry of Energy and Mines portfolio, spanning renewable energy, transmission lines, renewable fuels, mining and data center projects. All segments together could total 1.2 trillion reais (US$232 billion) by 2032, or up to 4 trillion reais (US$773 billion) for all projects for the period of 2025 to 2035.

Industrial Info is tracking 585 active capital oil and gas production projects in Brazil, worth US$42.55 billion.

Oil and Gas Focus

Brazil has grown its oil and gas infrastructure over the years to become South America's largest hydrocarbon producer, with Petrobras, the country's national oil and gas company, at the helm of developments.

In January, the country produced 5.168 million barrels of oil equivalent (BOE/d). Oil accounted for 3.953 million BBL/d, a 14.6% year-over-year increase.

The higher volumes are the result of the deployment of new offshore platforms in Brazil's prolific pre-salt areas. Pre-salt output accounted for 80% of the nation's production in January.

Key Takeaways

• Brazil projects oil and gas investments of 432 billion reais (US$83.5 billion) by 2032.
• Oil development and production would account for over 90% of the investment.
• The government projects 1.2 trillion reais (US$232 billion) in broader energy and mining investments.

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About IIR News Intelligence
IIR News Intelligence is a trusted source of news for the industrial process and energy markets, powered by Industrial Info Resources' Global Market Intelligence (GMI).

About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 250,000 current and future projects worth $30.2 Trillion (USD).