Brazilian company Petrobras intends to boost output at the Tupi oilfield to 1mbbl/d by 2027 through new investments in the asset, reported Reuters.

Located in the deep waters of the Santos Basin, the Tupi field is said to be Brazil's largest oilfield. The field has seen a decline in production to 832,600 barrels per day (bpd), according to August data from the oil regulator ANP.

To achieve the production goals, Petrobras is set to drill 25 new wells in the Campos Basin, also located in the south-eastern waters of Brazil, in the coming year, seeking new oil and gas discoveries.

Additionally, the company plans a new drilling campaign in the Santos basin.

Despite the planned increase at Tupi, Buzios, another deep-water oilfield, will soon surpass Tupi as Brazil's largest oilfield, predicted Petrobras director Sylvia dos Anjos.

Buzios is currently producing 605,600bpd and is expected to exceed one million barrels of oil equivalent per day (boepd) in the second half of 2025.

"Tupi was declining, but it will come back up again," dos Anjos stated, outlining that the increase will be achieved by drilling new wells at the field.

This month, Petrobras and Colombia’s state-run oil and gas company, Ecopetrol, revealed two major gas discoveries in the country’s offshore basins.

The finds by Petrobras in the Guajira offshore basin are estimated to hold around six trillion cubic feet of gas.

Furthermore, Petrobras has initiated production from the Maria Quiteria FPSO vessel in the pre-salt layer of the Jubarte field in the Campos Basin offshore Brazil.

The FPSO has a production capacity of up to 100,000boepd and can process up to five million cubic metres of gas each day.