Petrobras' Domestic Oil Production Up 5.1%

Brazilian Basins
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Petrobras' average oil and natural gas production in Brazil in 2009 was 2,287,457 barrels of oil equivalent (boe), 5.1% more than a year ago (2,175,896 barrels/day). The exclusive oil production topped-out at the daily average of 1,970,811 barrels, a 6.3% increase over 2008, when the average was 1,854,655 barrels per day. The volume of natural gas the company produced in Brazil was 50,343,000 cubic meters/day, remaining the same as in 2008 on account of the retraction in demand in the Country.

Figuring-in the volume produced in the fields in countries where Petrobras has operations abroad, the Company's total daily average rose to 2,525,260 barrels of oil equivalent (boe), 5.2% more than the 2,399,958 boe/day produced in 2008.

Abroad, the average oil production was 140,576 barrels per day in 2009, 13.7% more than a year ago. Meanwhile, the volume of natural gas produced in 2009 was 16,519 cubic meters per day, 3.2% less than 2008. Total production in barrels of oil equivalent overseas reached 237,803 boe/day, 6.1% less than last year.

The increase resulted from production going on stream in the Akpo field and in new fields in the Agbami field, both in Nigeria. The variation in the natural gas volume is the outcome of the decreased demand for the gas coming from Bolivia.

The following daily production averages were recorded in Brazil in December 2009:

  • 1,987,098 barrels/day of oil, 6% more than in the same month in 2008, when 1,875,514 barrels/day of oil were produced, and the same as the volume produced in November 2009;
  • 50.981 million cubic meters of natural gas per day, a slight decrease compared to the 52.257 million cubic meters of natural gas produced per day in December 2008 and the same as in November 2009;
  • 2,307,758 barrels of oil equivalent (oil and gas), 4.7% more than the 2,204,203 boe/day produced in December 2008 and the same as the previous month.

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Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
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