Petrobras Faces ANP Call to Up Investment

By Andrew Willis, Contributing Reporter

RIO DE JANEIRO, BRAZIL – Concerned by falling oil production in the Campos Basin off the Rio de Janeiro coast, Magda Chambriard the director of Brazil’s National Oil Agency (ANP) has said she may ask Petrobras, Brazil’s state-directed oil company, to increase investments in up to eleven fields. Petrobras has until the end of this month to produce new development plans for the eleven fields after receiving a warning from the ANP in July.

Fields in the Campos Basin, gradually developed since the late 1960s, account for roughly eighty percent of Brazil’s . . .

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