The Brazilian National Petroleum Agency (ANP) estimates operators in the country will spend about 35.6 billion reais ($7.2 billion) in decommissioning activities across five offshore basins by 2026.
With a growing number of offshore mature fields nearing the end of their life cycle in Brazil, decommissioning of ageing production platforms and subsea infrastructure is expected to attract a lot of capital expenditure in coming years.
The bulk of work will be targeted to the Campos basin, where the ANP estimates 25 billion reais will be channelled over the next four years.
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