Adani Group’s ports arm expands its global maritime footprint with entry into South America; project to support Argentina’s LNG exports to India
African energy investors are increasingly looking beyond domestic upstream opportunities toward major oil, gas and infrastructure developments in South America, with Brazil’s pre-salt offshore sector and Argentina’s expanding LNG and pipeline network emerging as key targets for future capital deployment.
The South American country of Guyana has recently emerged as a world-recognized oil-producing nation. This occurred due to ExxonMobil’s string of world-class discoveries in offshore Guyana, starting with the 2015 Liza-1 wildcat well, drilled 118 miles northeast of the capital, Georgetown, in the 6.6 million-acre Stabroek Block.
Yinson Production, a subsidiary of Kuala Lumpur-based energy infrastructure and technology company Yinson Holdings, has confirmed the departure of a floating production, storage, and offloading (FPSO) vessel from a Chinese shipyard. This FPSO is now sailing toward South America, where it is expected to be deployed off the coast of Brazil.
After Exxon’s string of high-quality oil discoveries in offshore Guyana delivered more than 11 billion barrels of oil resources South America started garnering considerable attention from energy investors.