Petrobras Brings P-34 Online

The P-34 platform went online via the Jubarte-4 horizontal well, which will produce some 15,000 barrels per day (bpd) of heavy oil, classified as 17-degree API. This kicks-off Phase 1 of the Jubarte field located in the Espirito Santo sea. Over the next few months three other wells will be brought on stream to contribute to the P-34 reaching its nominal 60,000 barrel-per-day capacity.

ESS-110, P-34's second well, is slated to go online next. When the platform reaches its peak production level, the Espírito Santo Business Unit (UN-ES) is expected to reach a volume of 135,000 bpd, significantly contributing to Brazil's oil production.

Platform P-34 commencing its operations is yet another step Petrobras has taken to reach the oil production goals set forth by its Strategic Plan.