Brazil Stays Steady and Ends April with Daily Oil Production of 2.958 Million Barrels

Written by Flavia Marinho

Published on 02/06/2020 at 16:35

Brasil segue consistente e fecha o mês de abril com produção de 2,958 milhões de barris de petróleo por dia

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97.6% Of All National Oil Production And 86% Of Gas Production Came From Offshore Exploration. Fields Operated By Petrobras

According to the Oil and Natural Gas Production Bulletin released today (2) by the ANP, Brazil closed the month of April with 2.958 million barrels of oil per day, which, although considerably stable, represents a decline of 0.5% compared to the previous month. Petrobras Puts Up For Sale Participation In Exploratory Blocks In The Espírito Santo Basin

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Meanwhile, natural gas production closed the month of April at 124 million m³/day, representing an increase of 1.9% compared to the month of March.

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97.6% Of All National Oil Production And 86% Of Gas Production Came From Offshore Exploration. Fields Operated By Petrobras, in consortium or not, Produced 94.9% Of The Oil And Natural Gas.

According to data from the National Agency of Petroleum, Natural Gas and Biofuels – ANP, 113 wells in the pre-salt currently produce 2.057 million barrels/day of oil and 85.964 million m³/day of natural gas, which represents 70% of oil and gas production in Brazil.

The Lula field, the first development of pre-salt production by Petrobras, is the largest producer in the country, with 1 million barrels per day of oil and 45.7 million m³/day of natural gas.

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At the meeting, Petrobras President Roberto Castello Branco mentioned that current foreign investments were only possible due to a relaxation of local content, but he noted that there is still much to be done to make the legislation favorable to investments, without explaining why the last auctions did not attract foreign capital and only had offers from Petrobras and the Chinese, even in consortium with the Brazilian state company.

During the same meeting promoted by FGV, Castello Branco also stated that the sharing regime is detrimental to the state. The concession regime was also defended by Shell’s CEO, André Araújo, while Equinor’s VP, Paulo Van Der Vem, emphasized that although the company is cutting US $400 million in projects worldwide, investments in Brazil will not be reduced and highlighted the company’s projects in Brazil in the Bacalhau, Pão de Açúcar, and Peregrino Phase 2 fields. Check Out The Full Debate Video Here!

Brazil Stays Steady and Ends April with Daily Oil Production of 2.958 Million Barrels

97.6% Of All National Oil Production And 86% Of Gas Production Came From Offshore Exploration. Fields Operated By Petrobras

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FGV Brought Together The Presidents Of The 6 Largest Oil Companies In The World For A Debate On The Impact Of Covid-19 On The Oil Industry In Brazil

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Brazil Stays Steady and Ends April with Daily Oil Production of 2.958 Million Barrels

97.6% Of All National Oil Production And 86% Of Gas Production Came From Offshore Exploration. Fields Operated By Petrobras

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