Oil & Gas Production Petrobras Announces Record Oil Production in Brazil

Editor: Dominik Stephan

With new wells going on–stream on Brazil's oil fields, the semi–public Petrobras scores record outputs. Foreign operations, nevertheless, suffer from a current decrease in consumer markets, namely in Bolivia.

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(Picture: Petrobras)
(Picture: Petrobras)

Rio de Janeiro/Brazil – Oil and gas output in Brazil reaches new records: production of semi–public Brazilian multinational Petrobras went up to 2,376,359 barrels of oil equivalent per day (boepd) in 2011, about 1.6 percent above the 2010 level. With a daily average of 2,021,779 barrels, also the oil production alone set an annual record. Including the volume from the fields abroad where Petrobras has operations, in 2011 the Company's total daily average rose to 2,621,209 boed, 1.4% up on the 2010 production.

Brazilian Output Grows, Foreign Operations Stagnate

With new wells coming on stream the oil output in Brazil rose significantly in late 2011. Especially the offshore platforms P-57 (Jubarte) and P-56 (Marlim Sul), both in the Campos Basin and operations at FPSO Angra dos Reis, in the the Lula field, Santos Basin contributed to this growth, officials said.

Foreign operations witnessed a small dip, especially in the natural gas production, Petrobras stated. The company attributes this development mainly to a current decrease in the Bolivian consumer market.