One of the world’s leading energy producers, Brazil has a considerable pipeline of capital expenditure projects across the oil and gas and clean energy markets: EICDataStream is tracking close to 900 projects in the country, with a potential CAPEX exceeding US$903 billion. More than a decade after the start-up of the first FPSO operating in the pre-salt area, Petrobras, international oil companies and independent players still provide a wealth of opportunities for the supply chain in the offshore E&P market. The Brazilian NOC plans to invest US$78bn by 2027, of which 83% is associated with E&P projects: Petrobras is expected to place 13 new FPSOs online over the next four years, having already started operations at four FPSOs in 2023. IOCs and independent players such as Equinor, TotalEnergies, Trident Energy and PRIO are also making progress with ambitious field development projects in the Santos basin and beyond.

While oil and gas remains a driving force in the Brazilian energy market, the country has also attracted strong interest by developers in the clean energy area. A country already known for its vast onshore wind and solar potential; Brazil has now set its sight on offshore wind opportunities. International and domestic developers have submitted a total of 78 projects for environmental evaluation totaling 189GW of installed capacity. Clean hydrogen is another exciting clean energy segment, with key players such as Shell, Qair and Fortescue announcing green hydrogen and green ammonia projects in the Pecém, Açu and Suape hubs.