by Mark S. Langevin
April 3, 2013
In its pursuit of energy security, Brazil struck a hydrocarbon bonanza with the offshore, ultra deep-water "pre-salt" reserves. The pre-salt discoveries promise to more than quadruple Brazil's 14.5 billion barrels of booked reserves and boost oil and gas production from 2.3 to 3.5 million barrels a day by 2020. Already Brazil is the largest transportation fuel (petroleum and biofuels) producer in South America with one of the largest annual production increases in the world. Future increases in production can be expected to place the country as one of the largest non-OPEC producers of petroleum, consolidate its regional energy leadership, and create an opportunity for Brazil to exert greater geopolitical influence within the Atlantic basin, but not limited to it.
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