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BG Group CEO issues 'thumbs up' on Brazil production
02/15/2010
BG Group said it's on track to more than double its oil and gas production by 2020, with new discoveries in Brazil eventually geared to providing a substantial boost to the firm's bottom line."Brazil is one of our main focuses," said BG Group Chief Executive Officer Frank Chapman, adding that the firm eventually expects its production to reach 400,000 boe/d. "We might hit this threshold anytime after the second half of this decade," he said.Conservative outlookHowever, in a conference call with investors, Chapman indicated current projections about Brazil's output potential may be conservative, especially when it comes to the Santos basin."Whereas the market recog...
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