São Paulo – The Spanish oil company Repsol YPF intends to invest up to US$ 15 billion in Brazil by 2020, according to the news website of TV channel Bloomberg. The company is going to increase its investment in offshore fields in the Santos Basin, in order to reverse a trend of declining revenues that has lasted four years.
Repsol owns stakes in offshore oilfields in the basins of Santos, Campos and Espírito Santo. The company also operates in the Carioca, Guará and Iguaçu fields, with reserves in the pre-salt layer.
The British BG Group, in turn, intends to invest over US$ 20 billion in Brazil in the next decade, according to the Arab financial news website Menafn.
According to the news site of oil company TN Petróleo, BG owns a 25% stake in the Tupi Field. Petrobras owns 65%, and the Portuguese Galp retains a 10% share.
*Translated by Gabriel Pomerancblum
