The 14 subsalt areas that Brazil sold at the country’s five production-sharing auctions will yield about 2.1 million b/d and 24 million cu m/d in fresh output by 2028, according to a study published this week by government subsalt management company Pre-Sal Petroleo SA, or PPSA. Receive daily email alerts, subscriber notes & personalize your experience. Register Now “The Brazilian subsalt is one of the world’s biggest oil frontiers,” PPSA’s president Ibsen Flores said during a presentation at the company’s first subsalt technical seminar. The record-setting profit oil guarantees submitted to win development rights to the subsalt blocks during the bid rounds also will result in the government receiving about 250,000 b/d and 3 million cu m/d for its share of output, according to the PPSA study. The forecasts show “the importance of these 14 contracts for Brazil,” Flores said. Subsalt output, which already accounts […]