A hike in Petróleo Brasileiro’s (Petrobras) average production in oil and natural gas, in addition to pre-salt for the month of August set historic records for the Brazilian giant.
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Oil. Image from Petrobras. |
For oil and natural gas, in Brazil and abroad, production was 2.88 MMboe/d for the month of August, maring an increase of 4.5% year-over-year at 2.76 MMboe, and 0.8% higher than the company’s record of 2.86 MMboe reached in December 2014.
Petrobras achieved 192,000 boe/d outside of Brazil, a 3.8% increase compared to last month’s 185,000 boe/d, which was mainly due to the return of operation at the Chevron-operated Jack/St. Malo field in the Gulf of Mexico, that Petrobras has 25% stake in.
Oil production was 101,000 b/d, 5.2% higher than the 96,000 b/d from July. Average natural gas production outside of Brazil was 15.4 MMcum/d, 1.9% higher than July’s production of 15.1 MMcum/d.
Just in Brazil, Petrobras’ total production of oil and natural gas was 2.69 MMboe/d, representing a 3.1% increase compared to July at 2.61 MMboe/d. Production in Brazil also set a new domestic record of 0.6%, compared to December 2014’s 2.67MMboe/d.
“It is worth noting that, the total production operated by Petrobras in the country, including the portion operated for the partners, exceeded for the first time the 3 MMboe/d, reaching 3.01 MMboe/d,” Petrobras said in a statement. “The company’s oil production was 2.21 MMbbl, 3% higher than the 2.14 MMb/d produced the previous month, constituting thus the second best historic milestone.”
Petrobras is attributing the increase in production to the start up of the Cidade de Itaguaí FPSO, which began on 31 July, and has the capacity to process 150,000 bbl in addition to 8 MMcum/d of natural gas. The FPSO is located in Iracema Norte, northwest of the Lula field, in the Santos basin pre-salt area.
Natural gas production in Brazil, excluding the liquefied volume, also represented a new record of 77.2 MMcum/d, marking a 3.6% increase compared to July.
Petrobras also managed to set two production records in the pre-salt area. Daily production hit 896,000 b/d, and monthly production hit 859,000 b/d.
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