Petrobras Ups Brazilian Production 5.1%, Reaches 2.1 Million boe/d

Petrobras' average oil and natural gas production in Brazil reached 2,157,226 barrels of oil equivalent per day (boe) in April, 5.1% more than a year ago and 2% above the 2,114,089 boe lifted last March. Only taking domestic field oil production into account, the increase was 3.6% compared to April 2007, and 2.3% more than March.

This 42 thousand bpd difference was the outcome of new wells going online at the P-52 and P-54 platforms, both in Roncador, at the P-35, in Marlim, and at the PPM-1, in Pampo. Production being kicked-off at FPSO-Cidade de Rio das Ostras, on March 31, in the Badejo field, also in the Campos basin, contributed to this mark as well.

Petrobras' daily production capacity is expected to grow an additional 500,000 barrels in 2008, when four more platforms kick-off their operations, three of which in the Campos Basin and one in the Espirito Santo Sea. Furthermore, the five platforms that started producing in 2007 are also slated to reach their maximum capacities during the year.

Natural gas production at domestic fields topped-out at 50,064 million cubic meters per day, 15.4% more than the 43.375 million cubic meters lifted in April 2007.

Taking fields located in Brazil and abroad into account, the company's total oil and natural gas production averaged, this April, 2,381,045 barrels of oil equivalent per day, 3,7% more than the same month in 2007, and 1.8% above Petrobras' total production in March 2008.

The volume of oil and natural gas coming from the eight countries where Petrobras has production assets, in barrels of oil equivalent, reached 223,819 barrels/day in April, the same as in March.