Petrobras Increases Monthly Production to 2.09mboe/d

Brazil's state energy company Petrobras produced 2.09 million barrels of oil equivalent a day (mboe/d) in August, its highest monthly production rate of the year and a 2.62% increase from July, the company said in a statement Monday.

Improved operational efficiencies in the Campos basin were the main reason behind domestic oil and natural gas liquids (NGL) production in August, which increased 3% to 1.59mb/d from July, the statement said.

Offshore production was 1.33 million barrels a day (mb/d), while and onshore operations produced 251,900b/d. The monthly averages for the year to date are 1.30mb/d and 246,400b/d, respectively. Another factor behind the domestic oil and NGL increase was the August 5 start of production at the CRL-05 well in the Santos basin's Coral field. Petrobras owns 35% of the 6,500b/d production at the well, the statement said. International production was 164,100b/d, up from the 154,200b/d monthly average in 2003, taking total oil and NGL production to 1.75mb/d in August, up 2.73% from July, and over the 1.70mb/d monthly average for the year through August.

Natural gas production in August increased 2.03% to 55.1 million cubic meters a day (mcm/d) from July, with Brazilian operations providing 40.5mcm/d (up 2.73% on July) and international operations 14.6mcm/d (up 0.16% on July). The Shell-operated Fluminense floating production, storage and offloading (FPSO) tanker started operations in the Bijupira-Salema fields in the Campos basin on August 12. Shell has previously said that it expects to reach peak production of 80,000b/d of light crude (28-30 degrees API) and 1mcm/d natural gas by late this year or early next.

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