Petrobras Sets Another Production Record

Petrobras said Brazil's oil output rose in January to a record 1.556 million barrels per day thanks to the FPSO Brazil which came online late last year in the Roncador field in Campos basin replacing the P-36 which sunk in 2001. Campos accounts for approximately 80 percent of total oil production. Three out of a total of eight wells have come online since January, reaching a production of 55,000 barrels per day. In the next few months, when the FPSO reaches its full capacity, it should be producing 90,000 barrels per day.

In 2002, Petrobras produced an average of 1.5 million bpd. The company also said it hit a daily record of 1.622 million barrels on February 6, beating its previous top mark reached on May 12, 2002.