Brazil to lead crude and condensate production from upcoming projects in Americas in 2025

Brazil is expected to contribute about 48%, some 1.35mn b/d, of Americas’ crude and condensate production in 2025 from planned and announced projects (newbuild projects, excluding the US Lower 48), according to GlobalData.

Its latest analysis reveals that 1,164mn b/d of crude and condensate production in Brazil in 2025 is expected from planned projects with identified development plans, while 364mn b/d is expected from early-stage announced projects that are undergoing conceptual studies and are expected to get approval for development.

Brazil’s Bacalhau, Itapu (Florim),and Buzios V (Franco) developments are among key projects expected to collectively contribute about 39% of the crude and condensate production in 2025.

Svetlana Doh, Oil & Gas Analyst at GlobalData, comments: ‘One of the reasons for the success of Brazil’s oil and gas industry is that the country has a relatively liberalised oil and gas sector by comparison to other Latin American countries that are struggling to find cash to finance their exploration programmes. Brazil’s offshore high-return pre-salt resources have already attracted many international investors and the country was one of the few in the Americas region that kept their 2020 production growth despite slowed energy demand due to the COVID-19 pandemic.’

GlobalData identifies the US as the second highest country in the Americas with 623mn b/d of crude and condensate production in 2025, or about 22% of the total Americas crude and condensate production in the year (excluding the US Lower 48). Guyana follows with a production of 312mn b/d from planned and announced projects in 2025.

Among the companies, Petroleo Brasileiro, ExxonMobil and Royal Dutch Shell lead with the highest crude and condensate production of 768mn b/d, 206mn b/d and 166mn b/d, respectively, in 2025 from planned and announced projects (excluding the US Lower 48).