Recent Huge Gas Discovery by Petrobras Could be Gamechanger for Brazil

According to the government's announcement, the discovery in Sergipe and Alagoas may help achieve the expected "cheap energy shock" promised by Economy Minister Paulo Guedes - a plan to reduce the cost of natural gas by up to fifty percent and "reindustrialize" Brazil.

By Richard Mann, Contributing Reporter

RIO DE JANEIRO, BRAZIL - Brazilian oil and gas giant Petrobras just made its biggest discovery in Sergipe since pre-salt, in 2006. From six fields, it expects to extract 20 million cubic meters (m³) of natural gas per day, the equivalent of one-third of Brazil's total production.

Published last month, the discovery is expected to generate R$7 (US$1.8) billion in annual revenue for the state-owned company and its partners, the Gas Energy consultancy estimates.

According to the government's announcement, this may help achieve the expected "cheap energy shock . . .

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