Petrobras' Brazilian Oil Production Up 6.8% in October

Petrobras' average oil production in Brazil in October was 2,000,708 barrels, 6.8% more than a year ago. Compared to September, production remained at the same level. This volume shows a sustainable production of more than 2 million barrels of per day, a mark reached by few oil companies in the world.

Petrobras' oil and natural gas production in Brazil topped-out at 2,320,611 barrels of oil equivalent per day (boed) in October. This was 5% more than in October 2008, and the same as last September (2,326,969 boed).

Natural gas production in the domestic fields was 51,861,000 cubic meters, the same as that produced last September and in October 2008.

Considering the fields in Brazil and abroad, the Company's total oil and natural gas production averaged 2,576,613 barrels of oil equivalent (boe) per day in October, 5.6% more than the same month in 2008 and 0.2% more than last September.

The volume of oil and gas coming from countries where Petrobras has operations reached 256,002 barrels of oil equivalent per day (boed), the biggest since March 2006, when the Company produced 261,244 (boed). This month's production is 11.5% above that of October 2008 on account of production going on stream in the Agbami and Akpo fields, in Nigeria. Compared to last September, the increase was 4.4% as a result of production being kicked-off in the new field of Akpo.

Natural gas production abroad was 16,829,000 cubic meters per day, 3.2% more than in the previous month. This resulted from the increased demand for Bolivian gas.