Petrobras' National Oil Production Climbs 6.7% in May

Brazilian Basins
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Petrobras' average oil and gas production in Brazil, in May, topped out at 2,310,012 barrels of oil equivalent per day (boed), 6.7% more than a year ago (2,165,430 boed) and 1.1% above last month's mark. The exclusive oil production in the domestic fields, 1,989,322 barrels per day, was 7.3% above a year ago (1,853,743 b/d) and 0.7% more than April (1,975,540 b/d).

The 14,000-barrel increase was the result of production going on stream at platforms P-50 (Albacora Leste) and P-53 (Marlim Leste), in addition to the higher production rates of the wells connected to the FPSO Cidade de Niterói (Marlim Leste) platform vessel, all of which in the Campos Basin.

Considering the fields in Brazil and abroad, the Company's total oil and natural gas production reached the daily average of 2,546,553 barrels of oil equivalent (boe) per day. This was 7.6% more than in April 2008 and 1.1% higher than the total volume lifted last April from the Petrobras' fields in Brazil and abroad.

The volume of oil and natural gas coming from the nine countries where Petrobras has production assets, in barrels of oil equivalent, topped-out at 236,541 boed, 1.2% more than the previous month’s volume, and 17.2% above the May 2008 production. New producing wells going on stream in the Agbami and Akpo fields, in Nigeria, contributed to increase the volumes produced abroad.

Natural gas production in the domestic fields was 50.986 million cubic meters per day, the same as in April and a year ago.

Natural gas production abroad was 17.033 million cubic meters per day, 0.8% more than last month, because of the increased demand for gas coming from Bolivia. Compared to a year ago, there was a 12% increase on account of the reversal of the negative impact, registered in May 2008, of an operating shutdown in Argentina.


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