South America will remain a key region in the offshore oil and gas sector, especially for deep and ultra-deepwater projects, where regional spending could total around $170 billion across the offshore supply chain. A significant share of this investment will be allocated to projects in Brazil, especially those operated by Petrobras. Rystad Energy and FPSO Network has produced a report to showcase the potential for a significant surge in sanctioning of floating production storage and offloading (FPSO) projects over the next five years, following a slowdown in 2024.