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BG to spend $30 bln on Brazil offshore oil by 2025
RIO DE JANEIRO |
RIO DE JANEIRO May 24 (Reuters) - BG Group Plc. plans to spend about $30 billion to expand oil and natural gas output in Brazil by 2025, an investment expected to provide the British energy company with about a third of its future worldwide output, a top BG executive in Brazil told Reuters.
BG expects to produce 600,000 barrels of oil and natural gas equivalent per day (boepd) in Brazil by 2020 or shortly thereafter, said Henrique Rzezinski, corporate affairs vice president at BG's Brazil unit. That's an amount equal to over 90 percent of BG's total worldwide 2011 average production of about 641,000 boepd.
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