Rio de Janeiro (Reuters)-Brazilian production of oil and natural gas in the land fields (ONSHORE) is expected to grow 29% by 2028 compared to 2024, to 300,271 barrels of oil equivalent per day (Boed), the National Agency of Petroleum, Natural Gas and Biofuels (ANP) said on Wednesday, from data sent by the companies.
In 2025, Brazil’s terrestrial production is expected to reach 242,276 boed, a 4.3% increase compared to 2024 (232,328 boed).
The forecast, according to the ANP, indicates a positive impact of regulatory measures that have been implemented by the ANP, which allowed to reverse a decline trend, culminating with a minimum of 206,792 boed in 2022.
In addition, the ANP highlighted Petrobras’ billionaire a billionaire in previous years, which resulted in the entry of new operators in the ONShore, diversifying the segment and attracting investments. As a result, there are more than 50 independent companies today operating on land, he said.
The current projections, according to the agency, show that by 2028 it will be possible to return to the levels registered in 2016 (298,935 boed).
Among the strategic measures implemented, ANP highlighted the granting of the benefit of reduced royalties tax rate on incremental production (above the projected production curve), which sought to stimulate investments in the fields framed as mature.
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Another milestone, according to the municipality, was the definition of rules for the extension of the production phase of concession contracts.
The ANP also implemented the benefit of reducing the Royalties rate for small and medium -sized companies, has established guidelines for the evaluation of new Development Plans (PDS) aimed at the extension of contracts, among other measures.