Petrobras Expects Increase in Its Offshore Production in the Pre-Salt Basin

Due To The Increase In Production In The Pre-Salt Basin, Petrobras Expects Its Offshore Oil And Gas Production This Year To Exceed The Previous Forecast

Petrobras forecasts its average production in the pre-salt for 2020 to reach 2.84 million barrels of oil per day (boed), of which 2.28 million bpd is oil, with a margin of error of 1.5 in the offshore industry. This estimate exceeds by 2.5 percent the upper range of its original production guidance of 2.7 million boed of total production and 2.2 million bpd of crude oil production.

Read Also

• In Recovery Mode, Oil And Gas Sector Is Hiring Again
• Mega Oil Auction Yielded Only Half Of The Expected To States And Municipalities
• Investments – Ministry Of Infrastructure Will Have R$ 30 Billion In Public Resources To Invest In Works
• TechnipFMC Expects High Earnings From Brazilian Subsea Projects
• Brazilian Mining Profits 9% More This Second Half After China’s Return To Negotiations

Third Quarter Was Good For Petrobras

Petrobras Rapidly Restored Its Offshore Production In The Third Quarter Of Platforms That Had To Stop Operating Due To The COVID-19 Pandemic And The Measures To Contain It, Which Have Been Especially Challenging For Offshore Operators.

Petrobras’ Offshore Production Of Oil, Liquefied Natural Gas (LNG), And Natural Gas Averaged 2.95 Million Boed In The Third Quarter, A 5.4 Percent Increase From The Second Quarter, As Production Increased In Pre-Salt Fields And Operations Normalized On Platforms That Had Halted Operations Due To COVID-19 In The Second Quarter.

Production In Pre-Salt Fields Increased 8%

Crude Oil Production In Pre-Salt Fields Increased 8.1 Percent To 1.651 Million Bpd In The Third Quarter Compared To Q2, Mainly Due To The Increased Operational Efficiency Of Platforms In The Búzios Field And The Ramp-Up Of Production Platforms In Tupi And Atapu Oil Fields.

Compared To The Third Quarter Of 2019, Petrobras’ Crude Oil Production In The Offshore Pre-Salt Area Increased By 20.8%. Year-To-Date, Production From Pre-Salt Fields Increased By 32.2% Year-On-Year, The Company Stated.

In August Of This Year, Petrobras Launched A New Phase In The Development Of The First Deepwater Oil Project Since The Beginning Of The Crisis, In The Mero Field In The Santos Basin. The FPSO Marechal Duque De Caxias Will Be The Third Platform To Be Deployed In The Mero Field, Part Of Brazil’s Prolific Pre-Salt Zone That Holds The Majority Of Its Untapped Oil And Gas Wealth.