Petrobras' Oil Production to End Year At 2MM B/D

RIO DE JANEIRO (Dow Jones Newswires), October 7, 2008

Petrobras should end 2008 with daily domestic crude oil output of about 2 million barrels a day, the company's executive manager for exploration and production told the Estado news agency.

According to Petrobras' Jose Antonio Figueiredo, new wells connected to the P-52 and P-54 platforms, as well as the start up of the P-51 and P-53 platforms, will boost the company's output by about 100,000 barrels a day.

In August, domestic crude oil daily output was 1.885 million barrels of oil equivalent.

The P-53 platform was inaugurated last month, with the first production expected later in October. The P-51 platform, which will be launched Tuesday, will likely start producing crude around Christmas, Figueiredo said.  

Copyright (c) 2008 Dow Jones & Company, Inc.

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