Petrobras Posts June Production Results for Brazil, Abroad

Petrobras' average oil and natural gas production in Brazil and abroad topped-out at 2,505,379 barrels of oil equivalent per day (boed) in June, 3.5% more than a year ago, and 1.6% below the total volume lifted last May.

Only taking the fields in Brazil into account, the oil and natural gas production averaged 2,253,414 barrels of oil equivalent per day (boed), 2.3% more than the previous year’s mark (2,203,039 boed), and 2.4% less than a month earlier.

The exclusive domestic field oil production, 1,926,646 barrels per day, was 3.2% above June 2008 (1,867,336 b/d) and 3.2% less than last May (1,989,322 b/d).

This temporary volume reduction derived from scheduled shutdowns carried out at two platforms in the Campos Basin (P-37, Marlim, and P-40, Marlim Sul) and from production interruption, for about two months, at two Golfinho field wells, in the Espírito Santo sea. These wells had been producing for FPSO Capixaba and are now being interconnected to FPSO Cidade de Vitória, which is already producing in the area.

FPSO Capixaba, which is capable of producing 100,000 barrels/day, will undergo adaptations and, in mid-2010, will be installed in the Cachalote field, also in the Espírito Santo sea.

The volume of oil and natural gas coming from the nine countries where Petrobras has production assets, in barrels of oil equivalent, topped-out at 251,965 boed, 6.5% more than the previous month's volume, and 15.5% above the June 2008 production. New producer wells going on stream in the Nigerian Akpo field contributed to the increase.

Natural gas production in the domestic fields was 51.952 million cubic meters per day, the same as in May and a year ago.

Natural gas production abroad was 17.955 million cubic meters per day, 5.4% more than a month earlier. This resulted from the normalization of production in Argentina after a shutdown carried out in May. Compared to last year, there was a 4.7% increase on account of new gas producing wells having gone online in Argentina.