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BG hits record production levels offshore Brazil

11th November 2014

BG Brazil has reached a production level record of 100 thousand barrels of oil equivalent a day in October on the back of a Santos Basin ramp-up

BG hits record production levels offshore Brazil
BG plans to invest a further USD 3bn per annum into its Brazilian operations over the next few years.

The overall rise in production has been directly attributed to increased levels of oil and gas output in the pre-salt fields of the Santos Basin, where the company has participated in three blocks in partnership with Brazil’s state-owned oil company Petrobras.

BG is involved in some of the region’s largest discoveries such as the Lula, Iracema, Sapinhoa, Iara and Lapa fields.

In the third quarter of this year, production reached levels of an average 81 thousand barrels of oil equivalent a day.

The company was granted favourable tax concession during its drilling campaign, which has allowed it to establish itself as one of Brazil’s major private oil and gas producers.

The achievement comes on the same year that BG Group celebrates its twentieth year operating in the country as BG Brazil.

BG plans to invest a further USD 3bn per annum into its Brazilian operations over the next few years.

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