Amid Pandemic, Petrobras Increased Oil Production by 9% and Grew Pre-Salt Field Production by 32%

Petrobras Oil Production Grows in Q3 and the Oil Company Raises Target for 2020. Refineries Also Show Good Performance

In the third quarter of this year, Petrobras’s oil and gas production reached 2.952 million barrels of oil equivalent per day (boed) and increased fuel production, the state-owned company reported last night in a relevant fact. Raízen, Brazil’s giant ethanol producer, opens positions for candidates without experience seeking their first job in its Trainee and Internship program 2021

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“Petrobras’ operational performance in Q3 2020 was very good, considering the challenging scenario imposed by the COVID-19 pandemic. Our oil and gas production in Brazil grew by 9.0% in the first nine months of this year compared to last year. Production from pre-salt fields expanded by 32%, while in other areas, post-salt, shallow waters, and land, there was a contraction,” said Petrobras in the communication.

Due to the greater operational efficiency of the platforms installed in the Búzios Field in the pre-salt of the Santos Basin; the growth of production from the P-70, located in the Atapu Field, which started production at the end of June; and a reduction in losses due to the unavailability of underwater lines, with the development of new technologies, Petrobras was able to increase its oil production in Brazil in the third quarter compared to the previous period by over 5%, reaching 2.36 million barrels per day.

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In the announcement, the company also reported “normalization of the production of the platforms that had been stopped due to COVID-19 in the second quarter.”

From January to September, oil and gas production in Brazil grew by 9% compared to 2019, with production from pre-salt oil fields increasing by 32%, while in other areas, post-salt, shallow waters, and land, there was a contraction.

With the strength of the pre-salt, Petrobras raised its oil production target for 2020

“We estimate that the average production in 2020 will reach 2.84 MMboed, comprising 2.28 MMbpd of oil, with a variation of 1.5% upwards or downwards, exceeding the upper limit (2.5%) of the originally disclosed targets for the year (2.7 MMboed and 2.2 MMbpd),” said Petrobras in the report