Investments in the Brazilian oil and gas industry have the potential to increase in coming years and reach a tenth of the world’s total capital expenditure, as the country opens up to private sector spending with a series of initiatives to attract new players and have a more diverse market. Over the past 12 months, Brazil has completely revamped its regulatory framework in a bid to improve competitiveness.
Statoil closed drill rig contract with Seadrill for Carcara – Seadrill’s West Saturn is expected to drill at least two firm wells in the BM-S-8 area, including a production test.
Karoon negotiating to contract drill rig in 2018.
Brazil Energy Insight 
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