Petrobras announce expansion ambitions
Those considering property in Brazil could be interested to hear oil giant Petrobras has announced it intends to extend its operations in the Latin American country.
Following its presentation of record second-half results to members of its capital market investment analyst and professional association, the firm’s chief financial officer declared it will put new offshore drilling rigs into operation.
Almir Barbassa revealed the organisation intends to close the year 2017 with 63 units in use in deep and ultra-deep waters – nearly double the amount currently in operation.
"Petrobras is working on encouraging foreign companies to install activities in Brazil, particularly in partnership with Brazilian companies; on driving the entrance of new companies in the industry [and] on developing competitiveness," a company statement said.
It added that boosting productive capacity in highly competitive sectors has another goal.
The firm announced its revenues were up by 29 per cent for the first six months this year, standing at $5.4 billion (£2.7 billion).
