Petrobras Targets Tupi Oil Field Production Increase in 2027

Platform P-66 in operation at the Tupi field (Credit: Petrobras)

Brazil state-run firm Petrobras plans to bring oil production at its Tupi oil field back to 1 million barrels per day (bpd) in 2027, as it plans new investments in the asset, its director for exploration and production Sylvia dos Anjos told Reuters on Thursday.

Located in deep waters offshore, Tupi is Brazil's largest oil field in terms of production with 832,600 bpd, although it has been declining in the past few years, according to August data from oil regulator ANP.

(Reuters - Reporting by Rodrigo Viga Gaier; Writing by Andre Romani; Editing by Aida Pelaez-Fernandez)