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Home Petrobras breaks August record and further reduces pre-salt extraction costs

Petrobras breaks August record and further reduces pre-salt extraction costs

26 October 2019 to 10: 52
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Petrobras
Petrobras breaks new record

Increased oil production was the main reason alleged by Petrobras for the new drop in extraction costs in the pre-salt layer

In August of this year, Petrobras informed that the expenses with the Oil extraction in the pre-salt layer had reached the lowest level in history, US$ 6 per barrel of boe oil equivalent (oil plus gas).
Well, in just over 2 months, the oil company announced a new reduction in pre-salt extraction costs, now the value has reached US$ 5 per barrel of oil equivalent (oil plus gas) in the third quarter of the year.

The statement was made by Petrobras' director of exploration and production, Carlos Alberto Oliveira, who explained that the reduction was due to the increase in production in this period.
With this result, Petrobras' average cost of extraction in the third quarter of the year was US$ 9,7 per barrel.

Counterpart

It is worth remembering that in August, Petrobras broke a record and reached a total production of 3 million barrels of oil equivalent per day.
The good news was overshadowed by the increase in extraction costs in the post-salt fields, which rose from US$ 13,6 per barrel in the second quarter to US$ 14,2 in the third quarter.

According to Oliveira, the increase was due to investments made in oil platforms that were already foreseen in the renewal plan of the Bowl of Fields.
The director spoke about the future expectation of post-salt extraction costs, “We expect to stay between US$ 13 and US$ 14 per barrel in the last quarter”, he explained.

In addition to its importance as the main Brazilian producer, the pre-salt has a lower cost than other assets located in shallow, deep waters and even onshore.

Also read here on your CPG portal! Petrobras' profit is up 37% and reaches R$ 9 billion in the 3rd quarter!

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