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In return, the company readjusted its oil and gas production projection upwards for the year 2023.
Petrobras announced today the upward revision of its oil and gas production target for the year 2023. On the other hand, the investment forecast was reduced by US $ 16 billion for US $ 13 billion, still representing an increase of 30% compared to 2022.
This reduction in investments is explained by the state-owned company as a reflection of lower expenditure on exploration and production, which were reduced by US $ 13,3 billion for US $ 11,2 billion. The company mentions the challenging scenario faced by the supplier market in the post-pandemic inflationary context, influencing the capacity to supply the growing demand for critical resources for the oil and gas industry.
Petrobras postpones bidding of platforms for the Sergipe Águas Profundas project for 2024
A Petrobras recently announced the postponement of bidding of the platforms of the Sergipe Águas Profundas project for the year 2024. This occurred amid a reduction in investments, however the company assured that the target of production has not been compromised.
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With the review of projections, Petrobras hopes to achieve a production of 2,8 million of daily barrels of oil equivalent (boe/day) in 2023, exceeding the previous projection of 2,6 million boe/day. The half production commercial volume was also adjusted from 2,3 million to 2,4 million boe/day, and the production of Oil and natural gas liquids (NGL) from 2,1 million to 2,2 million barrels/day.
Source: EPBR Agency
