Brazil's investments in oil and natural gas to reach US$1,7 billion by 2024

This year, investments in exploration and natural gas, especially in the exploration phase, should reach around R$10 billion (US$1,7 billion), according to data released by the National Agency for Petroleum, Natural Gas and Biofuels (ANP) and quoted by Brasil 247, a partner of TV BRICS.

According to the Agency, the agreement provides for the signing of contracts aimed at enabling exploration and production. Based on these contracts, it is possible, firstly, to identify the presence of these biofuels; and secondly, to determine the quantity that makes their extraction economically viable.

According to the document, investments will be distributed by activity. For the year 2024, R$9.5 billion (US$1,6 billion) will be allocated to the maritime environment; R$8.5 billion (US$1,5 billion) to well drilling; and R$470 million (US$83,5 million) to the terrestrial environment.

After stipulating the working areas under contract, called blocks, companies will enter the production phase, and then these areas will be called fields.

In 2023, a total of 251 blocks were signed, of which 151 were dedicated to the onshore environment. The sector ended the year at the top of the activities that received the most investment in the sector.

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