Brazilian Oil And Gas Production Hits Record In May

Written by Renato Oliveira

Published on 04/07/2019 at 06:30

BRA06 – CAMPOS (BRASIL), 07/12/04.- Foto de archivo (18/11/03). La estatal brasileña Petrobras revisará al alza sus estimaciones de precios mínimos del petróleo en sus nuevos proyectos de inversión, atendiendo la tendencia mundial de la industria, afirmó hoy, martes 7 de diciembre, el presidente de la empresa José Eduardo Dutra. Estos precios de referencia son usados por las petroleras para calcular la viabilidad de sus nuevas inversiones. En el caso de Petrobras la revisión va a ser incluida en su plan estratégico de 2005 para dar luz verde a nuevos proyectos que están en el límite, explicó el ejecutivo EFE/ARCHIVO/Marcelo Sayão

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Production Increase Was Nearly 5% Compared to Both the Previous Month and the Same Period Last Year.

ANP released yesterday, Tuesday (07/02), the results of national Oil and Gas production for the month of May, and it was a record.
2.731 million barrels per day of Oil were produced, the best mark achieved since December 2016, when 2.730 million bpd were produced. The increase was 4.7% year-over-year and 4.9% compared to April.

Natural gas production also stood out, reaching 118 million cubic meters per day, breaking the previous record of 117 million m³/day, produced in October 2018. The increase was 5.4% year-over-year and 4.4% compared to April.

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Summarizing the production of Oil and Gas, the so-called boed (Barrels of Oil Equivalent), May’s production is also a record, with 3.474 million barrels of oil equivalent per day (boe/d) compared to the previous record of December 2016, which was 3.433 million boed.

The Pre-salt

Many of these numbers are due to the production from the Pre-salt, which contributed to the current record, as there was a 6.4% increase compared to April and a 14.5% increase compared to the same period last year.

In May, the Pre-salt represented 60.7% of the total produced in Brazil, with 1.64 million barrels per day of oil and 68.7 million cubic meters per day of natural gas, or a total of 2.106 million barrels of oil equivalent per day (boe/d).

According to the results released by ANP, Brazilian Oil comes from 7,107 wells, with 642 offshore and 6,465 onshore, with Petrobras responsible for 94.4% of oil and natural gas production.

The largest producing well was the Lula field in the Santos Basin, which produced an average of 910 thousand barrels of oil per day (bbl/d) and 39.1 million cubic meters of natural gas per day (m³/day).

Brazilian Oil And Gas Production Hits Record In May

Production Increase Was Nearly 5% Compared to Both the Previous Month and the Same Period Last Year.

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

The Pre-salt

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Brazilian Oil And Gas Production Hits Record In May

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