Brazil Demand Should Pick Up
The award volumes for South America, namely Brazil, in 2013 and 2014e were the lowest since 2007. With the named projects underway, Quest expects Petrobras will need to significantly increase demand for SPU, especially for the pre-salt, in the next two years. It is understood that a large multi-year call-off is in process that will help Petrobras with the execution of their expected developments.
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