President-elect Dilma joked recently that the oil discoveries were just the latest proof that God is Brazilian. And economists from Goldman Sachs no less are predicting that Brazil — along with Russia, China and India — will dominate the world economy in the 21st century.
If you didn’t see the 60 Minutes story on Brazil, you can view it here. With regard to the significance of Brazil’s recent deepwater discoveries, OGX owner Eike Batista offered the following:
Oh, it, it means we should be producing in excess of six million barrels a day. So it’ll put us in among the third, fourth largest producer in the world. Massive exporting.
According to this blog entry, Batista forecasts this 6 million bopd production rate (more than double the current output) by 2020!
Like other offshore producers, Brazil has experienced its tragedies, most notably the sinking of the P-36 production platform that resulted in 11 fatalities. Petrobras and Brazil have recovered nicely from that disaster, but outstanding safety performance is critical if they are to sustain their offshore success.
Bud's Offshore Energy (BOE) 
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