Brazil Oil Giant Petrobras Boosts Production by 4.8%

Petrobras' average oil and gas production in Brazil, in January, topped-out at 2,219,165 barrels of oil equivalent per day (boe), 4.8% more than a year ago and 0.7% more than in December 2008. The exclusive oil production in domestic fields, 1,922,946 barrels/day, set a monthly record, 5.3% above the mark set a year earlier and 2.5% more than the volume lifted in December 2008.

The 47,000 barrel-per-day difference took place in the Campos Basin and was the outcome of production going on stream at platform P-51, at the Marlim Sul field, of the increased volume lifted by the P-53, and of new wells going online in the Marlim field. The previous monthly record, set in September 2008, was 1,897,563 barrels per day.

Considering Petrobras' fields in Brazil and abroad, the total oil and natural gas production last January reached the daily average of 2,434,121 barrels of oil equivalent (boe). This was 3.8% more than in January 2008 and the same as the total volume extracted last December from the Company's fields in Brazil and abroad.

The volume of oil and natural gas coming from the eight countries where Petrobras has production assets, in barrels of oil equivalent, reached 214,956 barrels per day, a 7.3% compared to the previous month, and 5.3% below the January 2008 production mark.

Natural gas production in domestic fields topped-out at 47.095 million cubic meters per day in January. This was 9.9% less than the total lifted in December 2008, keeping pace with the reduced domestic demand in the month. Natural gas production abroad, meanwhile, was 15.762 million cubic meters per day, below the 17.062 million cubic meters produced in December 2008. The international variation resulted from decreased production in Bolivia due to the lower demand on the Bolivia-Brazil Gas Pipeline, and from operating issues at the Coulomb field, in the United States.