With Petrobras leading the way, several companies plan significant projects in the coming years. In 2009, Brazil was proven to hold 12.6 Bbbl of oil reserves (Agenda Nacional do Petroleo, or ANP, estimated this to have risen to 14 Bbbl in 2010), second largest in South America after Venezuela. The offshore Campos and Santos basins on the country's southeastern coast contain the vast majority of Brazil's proved reserves. According to the BP Statistical Review 2010, in 2009 Brazil produced 2.2 MMbbl/d of oil, of which 90% was crude oil.
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