million bpd by 2020, at an Average Annual Growth Rate (AAGR) of 4.7%. The increase in production will be mainly driven by Venezuela’s Petroleos de Venezuela (PDVSA) and Brazil’s Petrobras. Venezuela will continue to be the largest oil producer in the region while Brazil will become the second largest oil producer overtaking Mexico.
Investments in the oil and gas sector in South and Central America have been steadily increasing over the past few years, primarily driven by National Oil Companies (NOCs). In 2010, the major NOCs in the region are expected to spend approximately $92 billion, a major part of which will be spent in the upstream sector. The NOCs are expected to continue to increase their investments in the upstream sector in the coming years.
GlobalData's report "South and Central American National Oil Companies - Overseas Acquisitions To Secure Future Energy Needs" analyzes the role of South and Central American National Oil Companies (NOCs) globally.
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This report will provide you with...
• Analysis of the major NOCs from the region's activities in the domestic upstream sector, and oil and gas production forecasts for these companies until 2020: PDVSA, Pertrobras, Pemex, Ecopetrol and Petroecuador
• Detailed information on the upstream sector in South and Central America with reserves growth, production trends during 2000-2009, discoveries in the region and major prolific areas for future growth
• The role of these NOCs in the midstream and downstream sectors detailing the planned projects by the NOCs in these sectors
• Information on the global operations of the South and Central American NOCs detailing core operational areas
• Details of major joint venture/partnerships entered into by South and Central American NOCs for developing their domestic oil and gas industries
• Discussion on the growing role of South and Central American NOCs in the oil and gas industry of the region to 2020 and its impact on the global market
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