Brazil produced three million barrels of oil a day last year, most coming from pre-salt reserves. The majority of the country’s natural gas also came from pre-salt.
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A study by ABESPetro, conducted with consultancy firm Delloite, pointed out the Brazilian oil and gas industry could receive investments of USD 24 billion a year until 2025.
The Brazilian federal government sanctioned the legal framework approved by the Legislative Branch. The new law is expected to help attract foreign investment into the sector.