BG Group all set to invest in deepwater oil fields of Brazil

BG Group is investing $10 Bn USD in Brazilian deepwater oil fields in the coming few years as the group looks forward to develop the country’s deepwater oil fields, increasing this organization’s role as a leading source of energy investment in the region.

The oil company is looking forward to produce around of 400,000 barrels of oil per day in the coming decade. This is going to make them the second largest producer of oil, behind state-run energy giant Petrobras.

Nelson Silva, the president of the BG Group communicated this as well as the fact that the firm is also searching for locations within Brazil to build a global technology center.

While speaking to the Brazilian business newspaper Valor Economico, he also said that they plan to stay in the market for a long time. They intend to be the operators of sustainable projects in Brazil and also want to shape the oil structure within the country. This is going to require investments in research, local incentives and support for local social programs and the environment.

The current energy investment in this country has doubled since BG was established in Brazil 6 years ago.