Petrobras' Oil Production Grows 8.3% in October

Petrobras' average oil production in Brazil reached the mark of 1,872,970 barrels in October, an 8.3% increase over a year ago. The natural gas production, also in the domestic fields, topped-out at 53.711 million cubic meters/day, 26% more than the 42.589 million cubic meters produced in October 2007.

Adding the volumes of oil and natural gas, the average production, in October, in Brazil, totaled 2,210,830 barrels of oil equivalent (boe) per day, 6.9% more than a year ago (1,887,366 boe per day) and stable compared to the previous month's mark.

The average oil production in October was 1.3% lower (1,897,563 barrels/day) than in September. This slight variation resulted both from operating problems, which have already been resolved, at platforms P-52 and FPSO-Brasil (Roncador Field), and at P-48 (Caratinga field), and from the decreased production at the Furado Oil Treatment Station, in Alagoas, on account of the accident which took place there on September 23. Gas production in October, meanwhile, was 2.3% higher than in September 2008.

Considering Petrobras' fields in Brazil and abroad, the total oil and natural gas production last October reached the daily average of 2,440,367 barrels of oil equivalent (boe), 9.4% more than a year ago and stable compared to September.

International production

The volume of oil and natural gas produced by Petrobras in the eight countries where it has E&P operations, in barrels of oil equivalent, closed at 229,528 barrels per day in October, 3% more than in September. New wells going online in the Agbami field, in Nigeria, helped boost the volumes produced abroad compared to the previous month's total.
 

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Brent Crude Oil : $54.94/BBL 0.88%
Light Crude Oil : $51.79/BBL 0.21%
Natural Gas : $3.65/MMBtu 6.10%
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