Petrobras Sets Record In August, Reaching Total Production Of 3 Million Barrels Of Oil Per Day

Petrobras Informed That Average Production Reached a Peak of 3.1 Million Barrels of Oil Equivalent per Day (boed).

In August, Petrobras’ average oil and natural gas production reached a record of 3 million barrels of oil equivalent per day (boed), the state-owned company reported in a market statement this Tuesday, September 3.  Aiming at optimizing the portfolio and improving the company’s capital allocation, the oil company began the sale of 11 production fields in shallow waters of the Campos Basin

During the month, the oil company recorded a peak of 3.1 million boed in one day, also a record.

The company’s average production grew 21.6% in August compared to the same month in 2018.

“The seven new platforms that began operations since 2018 reached production of 690 thousand barrels of oil per day on August 8, with an emphasis on the production growth in the Búzios field”, the company said.

In the pre-salt area, the oil company produced 2.2 million boed in August, along with its partners, with daily production reaching 2.5 million boed, which also represents a record for the company.

In 2018, the average oil production in Brazil was 2.03 million barrels per day (bpd), below the target of 2.1 million bpd.

For 2019, Petrobras’ target was revised to 2.7 million barrels of oil equivalent per day (with 2.1 million barrels per day of oil production), with a variation of 2.5% up or down.

Naval Industry Shows Signs of Recovery, According to Experts

After a long period of crisis, the Brazilian naval industry projects a recovery starting in 2020. The sector that lost 330 thousand direct and indirect jobs in five years is trying to reduce its dependence on oil exploration and reactivate dozens of idle shipyards. In Rio, 50 thousand jobs will be created with the decommissioning of 21 platforms in the Campos Basin.