Wood Mackenzie

Juliana Miguez, manager, and Luiz Hayum, analyst in the Upstream Research team for Latin America discuss the key takeaways from our Insight, Brazil's Campos basin mature oil fields: decommission or redevelop? The decommissioning of 32 platforms in the Campos basin by 2025 is expected to cost US$8 billion. The shift in investment to the more prolific Santos basin pre-salt will lead to the early cessation of production in many Campos basin fields. The US$8 billion proposed for the decommissioning of these mature fields could be invested and postpone 60% of decommissioning costs to after 2030, generating extra royalty and jobs.