New policies enacted by Brazilian energy regulators facilitate construction of the production infrastructure needed to crack into offshore oil, a report found. A compromise solution from the National Agency of Petroleum reduced fines for non-compliance and made it easier for companies to meet exploration and production contract requirements. Consultant group Wood Mackenzie said that means it becomes easier to crack open 21 million barrels of production from offshore Brazil by the middle of the next decade. “Brazil’s new local content policy debottlenecks floating production, storage and offloading vessel construction by allowing operators to construct hulls in Asian shipyards and use Brazilian suppliers to build and integrate selected modules,” Juliana Miguez, a senior research analyst for Latin America, said in the report emailed to […]