Petrobras Sees Increase in May Production

Brazil's average daily oil production totaled 1.53 million barrels in May, 1.3 percent higher than the daily average figure for the previous month, Petrobras said. The figure marked yet another month of record output, which corresponds with the company's plan to boost crude output this year by 15 percent from last year's 1.4 million.

Petrobras also said in a statement that its overall output of oil and natural gas in oil equivalent rose to 1.79 million bpd in May from 1.77 million in April. As usual, most of the oil came from offshore Campos basin, which produced 1.25 million bpd of crude. Petrobras attributed the output rise to the entry in operation of a 12,500 bpd well connected to P-25 offshore rig at the Albacora field, the reopening of two wells at the Marlim Sul field and higher efficiency of some Campos rigs.


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