Petrobras Increases Total Production by 14%

Petrobras oil production in Brazil and abroad, until October of this year, reached the average of 1,551,200 barrels daily (35 thousand abroad), an increase of 14% in relation to the same period of 2001, a much higher rate than the worldwide average of the sector. Adding the natural gas, the daily average of hydrocarbons produced by Petrobras rises to 1,830,100 barrels of oil equivalent (boe).

The relevant fact of the month was the start-up, on October 24th, of a well located in the Jubarte field, offshore the State of Espírito Santo, with a production of 16.5 thousand barrels/day, which has partially compensated for the provisional stoppage from the P-34 due to operational problems. Hence, the oil production average in October, taking into consideration domestic fields only, was maintained practically at the same levels of September.

Production from the huge Jubarte field, which was the largest discovery by Petrobras since the Roncador field, in 1996, is being obtained by long duration test in just one well, at a depth of 1,300 meters, through a floating production unit.