Brazil and up and coming producer Guyana both plan to continue boosting production in the coming years, but it鈥檚 not exactly a race, Petrobras CEO Jean Paul Prates said during a separate event in Houston while attending the Offshore Technology Conference (OTC).

Prates said a competition between the two Latin American producers wouldn鈥檛 make much sense in response to a question from Hart Energy. Rightfully so, as Brazil and Guyana are currently at two different extremes of the oil production spectrum.

Brazil is Latin America鈥檚 largest oil producer, with production averaging 3.36 MMbbl/d in March 2024 from 24 listed floating production, storage and offloading (FPSO) vessels combined with just over 40 other offshore platforms and vessels, according to details from Brazil鈥檚 oil regulator ANP.

Brazil and up and coming producer Guyana both plan to continue boosting production in the coming years, but it’s not exactly a race, Petrobras CEO Jean Paul Prates said during a separate event in Houston while attending the Offshore Technology Conference (OTC).

Prates said a competition between the two Latin American producers wouldn’t make much sense in response to a question from Hart Energy. Rightfully so, as Brazil and Guyana are currently at two different extremes of the oil production spectrum.

Brazil is Latin America’s largest oil producer, with production averaging 3.36 MMbbl/d in March 2024 from 24 listed floating production, storage and offloading (FPSO) vessels combined with just over 40 other offshore platforms and vessels, according to details from Brazil’s oil regulator ANP.