Brazil: Petrobras’ February Production Up 1.7 pct

Petrobras’ average oil and natural gas output in Brazil and abroad topped-out at 2,603,953 barrels of oil equivalent per day (boed) in February. This was 1.7% more than a year ago, and 2.2% less the total volume lifted last January.

Only figuring-in the fields in Brazil, the average oil and gas production reached 2,353,340 barrels of oil equivalent per day (boed), a 1.8% increase compared to February last year. This volume was 2.8% below last January’s output due to scheduled production shutdowns carried out on a few platforms during the month.

The exclusive oil production in domestic fields was 2,019,508 barrels per day, 1.6% more than in February 2010 and 2.4% less than a month earlier.

Natural gas output from domestic fields totaled 53.075 million cubic meters a day in February, a 2.8% increase over the mark set a year ago. On account of the scheduled platform shutdowns, the volume of gas produced in February was 5.5% lower than last January’s.

The volume of oil and natural gas produced at the fields located in countries where Petrobras has operations closed the month of February at 250,613 boed. This result is a 4.8% surge over January due to the greater demand for Bolivian gas and to production getting back to normal after the treatment plant was shutdown for maintenance in Bolivia. Compared with February 2010, output was up 0.9%, mainly on account of production going on stream at new wells in the Agbami and Akpo fields, both in Nigeria.

Natural gas production abroad was 16.671 million cubic meters, an 11.2% increase over January, and 1.3% more than in February 2010.

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Source: Petrobras,  March 23, 2011;