Petrobras Says Production Reached 2.55 MMBoe/d in March

Instant Max AI

(Petrobras, 10.Apr.2016) – Petrobras’ oil and natural gas output in March reached 2.55 MMboe/d, including 2.36 MMboe/d produced in Brazil and 183,000 boe/d abroad.

Average oil production in March was 2.02 MMb/d, down 3 percent compared to 2.09 MMb/d in the previous month. Domestic average output stood at 1.94 MMb/d, and average output abroad was 86,000 b/d.

Output compared to the previous month was changed mainly due to lengthy shutdowns on large production units, corrective maintenance on the P-31 which resumed production on March 28, 2016, and a fire aboard the P-48 which resumed normal operation on April 16, 2016.

Average domestic oil output for the first quarter fell to 1.98 MMb/d, due to scheduled production shutdowns during this period, which accounted for 5 percent of output. Scheduled shutdowns are expected to result in 2.5 percent of average output for this year.

Pre-salt oil production

In March, Petrobras-operated oil and gas output from pre-salt fields grew 1.2 percent month-over-month to 1.104 MMboe/d, a new monthly record exceeding February’s record output figure of 1.091 MMboe/d.

Average Petrobras-operated oil output also grew 1.2 percent compared to the previous month, with a figure of 884,000 b/d. This also sets a new monthly record (February average of 874,000 b/d).

Natural gas production

Petrobras’ average natural gas output in Brazil (excluding liquefied gas) stood at 67.8 MMcm/d, down 10 percent compared to the February figure of 75.4 MMcm/d. Average production abroad was 16.4 MMcm/d, up 2.4 percent compared to the previous month’s figure of 16 MMcm/d.

Annual Production Target

With the startup of FPSOs Cidade de Saquarema (Lula Central field) and Cidade de Caraguatatuba (Lapa field) and the lower number of shutdowns scheduled for the second half of the year, Petrobras is set to meet its annual oil output target in Brazil, set at 2.145 MMb/d.

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