Petrobras' September Production Sets Monthly Record

In September, the average oil production of Petrobras' fields in Brazil set the monthly record of 1,897,563 barrels/day, surpassing the volume extracted in the previous month by 12.400 barrels, or 1%. Compared to a year ago, the increase was 7.26%. The natural gas production in Brazil was up 24% over last year, and remained at the same level as in August 2008.

Adding the volumes produced in the domestic fields and the company's performance in the nine countries where it has production operations, the total average volume of oil and gas extracted by Petrobras in September topped-out at 2,450,610 barrels of oil equivalent per day (BOE). This represents a 7.6% growth over September 2007, and is stable compared to the previous month's mark. Petrobras' total exclusive oil production (Brazil and abroad) was 2,023,413 barrels/day, 6.6% more than a year ago and 0.7% higher than in August.

In September, joint production (oil and gas, in barrel equivalents) abroad reached 222,909 boe/day, stable compared to the previous month’s. Of this total, 208,411 boe/day came from companies Petrobras controls, while 14,498 boe/day from colligated companies. Exclusive oil production in the fields abroad was 124,850 barrels per day, also at the same level as in August.

Petrobras' production in the Agbami field, in Nigeria, where the company operates in partnership with other companies, was kicked-off in September and reached 8,667 barrels/day. In addition to Agbami, the Akpo field is also in its development phase in Nigeria. Petrobras' part in these two giant fields is expected to reach 65,200 barrels/day. The increased production in Nigeria compensated for the decrease in production in the United States caused by the preventive shutdown of operations on account of a hurricane in the Gulf of Mexico.