¬†Oil companies to install 28 new FPSOs in 2020-2032 Peak development activity expected in mid-2020s Investments total $135 billion for FPSOs, wells, subsea lines Output from oil fields in Brazil’s subsalt frontier covered by production-sharing agreements will surge over the next decade to 3.9 million b/d by 2031, surpassing the country’s current total output of about 2.9 million b/d, the head of government subsalt management company Pre-Sal Petroleo SA, or PPSA, said Monday. “Output from the current production-sharing contracts should peak in 2032,” PPSA Director General Eduardo Gerk said during a technical forum hosted by the company. PPSA represents Brazil’s government in the production-sharing agreements and sells the country’s share of oil and gas output on behalf of the government. The PPSA forecast does not include output from subsalt prospects located outside the polygon that requires production-sharing agreements, which are expected to further boost Brazil’s […]