Petrobras Says August Production Increased by 2.5%

Petrobras' oil production in Brazil, in August, was 1,807,074 barrels per day (bpd), 2.5% more than a year ago (1,763,832 bpd) and practically stable compared to July 2007, when production was 1,815,095 bpd. This 8,000-barrel-per-day difference, compared to July, was caused by minor, readily solved operating issues at the Marlim and Albacora platforms.

Petrobras expects to put four more platforms online by the end of the year: P-52 and P-54, both in the Campos Basin and capable of lifting 180,000 barrels per day each; the Piranema, in the Sergipe/Alagoas Basin, with total capacity for 30,000 barrels per day; and the Cidade de Vitória, off the coast of Espírito Santo, which may produce up to 100,000 barrels per day.

Including natural gas, in barrels of oil equivalent (BOE), Brazilian field production topped at 2,077,906, a 1.7% increase over a year ago 2006, and practically stable as compared to July 2007.

Petrobras' total production (oil & natural gas), in Brazil and abroad, was 2,319,961 barrels of oil equivalent per day, 1.3% more than a year ago and stable compared to last July.

Only taking oil into account, total daily production (in Brazil and abroad) reached 1,931,941 barrels/day, 27,544 barrels/day (1,4%) more than in August 2006. The volume of natural gas the company produced in Brazil and abroad was 63,000,000 cubic meters per day, the same as last July and as a year ago. Natural gas production in domestic fields capped-out at 43.059 million cubic meters, also stable compared to July 2007 and August 2006.

International oil & gas production, in barrels of oil equivalent, was 242,055 barrels per day, 1.6% above the previous month's.