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Petrobras breaks records in oil and gas production. Find out how the company stood out in 2023 and its future plans
Petrobras, a leading company in the oil and gas sector, celebrates the exceptional results achieved in the last quarter of 2023. With an average production of 2,94 million barrels of oil equivalent per day (boed), the company recorded growth of 2 % compared to the previous quarter. This performance was driven by the ramp-ups of platforms P-71, FPSO Almirante Barroso, FPSOs Anna Nery and Anita Garibaldi, as well as the entry of new wells in complementary projects in the Campos and Santos Basins. Furthermore, own oil production in the pre-salt reached 1,937 million boed, an increase of 3,5% compared to the previous quarter.
Pre-salt expansion and increased operational efficiency
Own production in the pre-salt, which also includes natural gas, was a highlights of the 4th quarter of 2023, reaching 2,33 million boed, which represents 79% of Petrobras' total production. This result is the result of investments in technology and exploration, which allowed the company to achieve greater efficiency in the extraction of these resources. Furthermore, the Associated Gas Utilization Index (IUGA) reached 98%, significantly contributing to the reduction of emissions and greater carbon efficiency. These numbers consolidate Petrobras as one of the most efficient and sustainable companies in the sector.
Recognition and future plans
The president of Petrobras, Jean Paul Prates, highlighted the importance of these results for the company: “The fourth quarter of 2023 consolidated the good results we achieved throughout the year. Records occurred in several areas of the company, crowning all of our team's efforts. We are extremely proud.” These positive results not only reinforce Petrobras' position as a leader in the sector, but also indicate a promising future, with expansion plans and investments in new projects that aim to further increase the company's production and operational efficiency.
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Investments and results in 2023
In 2023, Petrobras not only achieved production records, but also exceeded projections established for the year. Total annual production of oil and natural gas was 2,782 million boed, an increase of 3,7% compared to 2022. Furthermore, the company reached the annual record in operated production, with an average of 3,87 million boed , an increase of 6,2% compared to the previous year.
Highlight in the refining sector
In the refining sector, Petrobras also presented exceptional results. The total utilization factor (FUT) of the refining park was 92% in 2023, an increase of 4 percentage points compared to 2022. This was achieved despite scheduled shutdowns at the refineries throughout the year. The company also increased its share of diesel, gasoline and QAV by 2 percentage points, reaching 68% of total production. These results are the result of process optimization actions aimed at increasing the efficiency and profitability of the business.
Commitment to sustainability
Petrobras has stood out not only for its operational results, but also for its commitment to sustainability. In 2023, the company achieved the best refinery results in Energy Intensity and Greenhouse Gas Emission Intensity, demonstrating its commitment to reducing the carbon intensity of its operations. These results are the result of investments in technology and innovation that aim to make the company's operations increasingly sustainable and efficient.
The company had an exceptional year 2023, with production and operation records in several areas. The company has demonstrated its ability to innovate and adapt to market changes, consolidating its position as a leader in the oil and gas sector. With expansion plans and investments in new projects, Petrobras is prepared to face the challenges of the future and continue contributing to the country's development.
