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Petrobras Increases Oil Output Up in August

Source: www.gulfoilandgas.com 9/30/2013, Location: South America

Petrobras announces that, in August, oil output (oil plus natural gas liquids - NGL) from all the company’s fields in Brazil averaged 1,908,000 barrels per day (bpd). This volume is 1.1% higher than the average output of the previous month (1,888,000 bpd). Including the share operated by the company for its partners, oil output exclusively in Brazil reached 1,971,000 bpd, indicating a 1.3% rise from July.

This positive result is due to the resumption of operations on platforms undergoing scheduled maintenance stoppages in July (P-40 in Marlim Sul, P-20 in Marlim, PPM-1 in Pampo and FPSO-RJ in Espadarte) and the startup of wells on platforms P-54 and FPSO-Piranema. According to the schedule, production was halted on platforms P-26 and P-35 (both in Marlim) in August to comply with the scheduled maintenance shutdown program.

In August, Petrobras’ total output (oil and natural gas) in Brazil averaged 2,294,000 barrels of oil equivalent (boed), 0.5% higher than output in July. Including the share operated by Petrobras for partners, total output volume in August was 2,401,000 boed, 0.6% up on the July output.

Operations to connect platform P-63, the first production unit in Papa-Terra field, to mooring lines, are currently in the completion phase. This platform will start up operations on October 23.

The construction of platform P-55 has been completed and, on September 17, the inclination tests were initiated. By the first week of October, it should move to the Campos Basin’ Roncador Field.

Added to the company’s August output abroad, total oil and natural gas volume averaged 2,499,000 boe/d, 0.3% up on total output in July.

Natural Gas Production

In August, non-liquefied natural gas output from the company’s fields in Brazil was 61.378 million m3 per day. Total natural gas output, including the share operated by the company for its partners, was 68.336 million m3 per day, close to output levels in July.

International Production

In August, total extraction of oil and natural gas abroad was 205,698 boed, 1.4% down on July, due to an adjustment in the calculation of oil from Akpo field, Nigeria.

Of this total, natural gas output amounted to 15.842 million m3 per day, 1.4% up on the previous month’s output. This was due to higher output from 3 wells in the Rio Neuquém field, Argentina.

Oil output was 112,453 barrels per day, 3.6% down on July, also due to a calculation adjustment in output from Akpo.

Information to the Brazilian National Agency for Oil, Natural Gas and Biofuels (ANP)

In August 2013, the total output reported to ANP was 9,186,175.86 m3 of oil and 2,222.22539 million m3 of gas. This output corresponds to the total output of the concessions where Petrobras is the operator. It does not include shale, NGL volumes and partners’ output where Petrobras is not the operator.

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