Petrobras Meets Production Targets, Sets Pre-Salt Record, and Increases Refinery Throughput in 2021; Results Demonstrate the Company’s Commitment to Focusing on Oil and Gas Fields in Deep and Ultra-Deep Waters

Achieving These Results Demonstrates Petrobras’ Commitment to Meeting Its Goals and Focusing on Deepwater and Ultra-Deepwater Assets

Petrobras announced yesterday (02/10), in a relevant market announcement, that it achieved excellent operational performance in 2021, hitting all production targets for the year. A record in the pre-salt reinforces the excellent operational results achieved. Check out the record of the following milestones reached by the Brazilian oil giant:

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See Below the Highlights of 2021 Achieved by Petrobras

– Start of production of FPSO Carioca on August 23, the first platform in the Sépia field in the pre-salt of the Santos Basin. In the year, 3 new producing wells were interconnected, and currently, operated production is above 130,000 bpd;

“The start-up of the first Sépia project is a milestone for all of us who work at Petrobras. It is the victory of determination, persistence, and the technical capacity of our professionals, in a challenging external scenario due to the pandemic,” says João Henrique Rittershaussen, Development and Production Director;

– Completion, on July 18, of the ramp-up of P-70 in the Atapu field in less than 13 months. Thus, the platform reached, with 4 producing wells, an operated production of 161,000 bpd, exceeding the nominal capacity of the project;

Petrobras Sets Annual Gas Utilization Record with 97.2% of Produced Gas

– Annual gas utilization record with a rate of 97.2% of produced gas. This record significantly contributes to emission reductions and greater carbon efficiency.

– Signing and commencement, on September 1, of the co-participation agreement for the Búzios field, which regulates the coexistence of the Onerous Assignment Contract and the Production Sharing Contract for the Excess of the Onerous Assignment for the field. Thus, it now holds 90% of the exploration and production rights of the excess volumes, excluding the share from PPSA, and 92.666% of the shared reservoir volumes;

In May 2022, the State Company’s Interests in Shared Reservoirs Will Be 65.69% for Atapu and 55.30% for Sépia.

– Acquisition, on December 17, of the exploration and production rights of the excess volumes of the Onerous Assignment in the Atapu and Sépia fields. Petrobras exercised its right to act as operator, with a 30% stake in the winning consortium for Sépia. For Atapu, in turn, the consortium will be integrated by Petrobras as the operator, with a 52.5% stake.

With the start of the Production Sharing Regime in Atapu and Sépia, scheduled for early May 2022, Petrobras’ interests in the shared reservoirs, including the shares from the Onerous Assignment Contract and the Concession Contracts, excluding the share from PPSA, will be 65.69% for Atapu and 55.30% for Sépia.

“Achieving these results demonstrates Petrobras’ commitment to meeting its goals and focusing on deepwater and ultra-deepwater assets, which have shown a significant competitive edge, producing low-cost and high-quality oil with low greenhouse gas emissions,” says Fernando Assumpção Borges, Exploration and Production Director.

Click Here to Access Petrobras’ Full Report.