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Petrobras sees August spike in domestic oil production

15th September 2014

Petrobras’ consolidated oil and natural gas production in Brazil and abroad reached 2,759 thousand barrels of oil equivalent per day (boed), rising 2.2 per cent from a reported production of 2,699 thousand boed in July

Petrobras sees spike in domestic oil production
Petrobras’s total domestic oil and natural gas production rose by 2.9 per cent from a production of 2,479 thousand boed in July to 2,551 thousand boed in August

Petrobras’s domestic oil production increased by 2.7 per cent from 2,049 thousand barrels per day (bpd) in July to 2,105 thousand bpd in August.

Regarding the total oil production operated by Petrobras domestically, which includes the share operated by the company for its partners, a production of 2,232 thousand bpd was reported in August.

This represents a 3.7 per cent rise from July’s production of 2,152 thousand bpd.

Petrobras’s total domestic oil and natural gas production rose by 2.9 per cent from a production of 2,479 thousand boed in July to 2,551 thousand boed in August.

Total domestic oil and natural gas production operated by Petrobras, in turn, rose by 3.9 per cent from a production of 2,634 thousand boed in July to 2,736 thousand boed in August.

The rise in production was driven primarily by the ramp-up of platforms P-55 at Roncador field (Campos Basin), P-58, which started-up in March at Parque das Baleias (northern section of Campos Basin), and FPSO Cidade de Paraty at Lula Nordeste (Santos Basin).

Eleven new offshore wells started-up in August in the Santos and Campos Basins and, along with them, 47 new wells have already gone into operation in 2014. With the arrival of the Pipe Laying Support Vessel (PLSV) NO 105, from McDermott, on August 30, the company's fleet reached 15 vessels.

Pre-salt production reached 532 thousand bpd in August. The higher daily production of 581 thousand barrels for the Santos and Campos Basins pre-salt was set on August 25. These volumes also include the share Petrobras operates for its partners, and was set following the start-up of well LL-28 on FPSO Cidade de Paraty, which increased the production of this unit to 95 thousand bpd, with three wells.

In compliance with the company’s maintenance schedule, some platforms underwent shutdowns in August, which led to the temporary suspension of 25 thousand bpd in average monthly production. Some of the units whose production was interrupted due to maintenance activities include P-56 at Marlim Sul field, and P-19 at Marlim field. These units have already resumed normal operations.

Daily production of 71.022 million cubic meters of gas in August rose by 4 per cent from the previous month’s production of 68.3 million cubic metres a day. The gas production operated by Petrobras, which includes the share operated for its partner companies, reached 80.151 million cubic metres a day, up 4.7 per cent from July’s production of 76.6 million cubic metres a day. In addition, the beginning of gas exports from P-62 on August 30 was set.

Production abroad totalled 208 thousand barrels of oil equivalent in August.

Production abroad fell by 5.3 per cent in August to 208 thousand barrels of oil equivalent per day (boed) in relation to the previous month’s production of 219.7 thousand boed.

Average oil production in August fell by 4.3 per cent to 115 thousand barrels of oil per day (bpd), from the previous month’s production of 120.1 thousand bpd and average natural gas production abroad fell by 6.6 per cent to 15.807 million cubic metres a day, from the previous month’s production of 16.921 million cubic metres a day.

These decreases are driven predominantly by lower gas and liquids (NGL and condensate) production at Lot 57, Kinteroni Field, Peru, stemming from lower demand for LNG exports from this country.

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