Brazil: Petrobras Lifts Natural Gas Output in August

Petrobras’ oil and natural gas output in Brazil was 2,321,880 barrels of oil equivalent per day (boed) in August, the same as the previous month. Domestic natural gas output reached 57,087,000 cubic meters per day, 9% more than in August 2010 and equal to last July.

In August, oil output from domestic fields alone was 1,962,816 barrels per day, comparable with July 2011 and August 2010.

In oil equivalent, domestic oil and natural gas output in August was 1.3% lower than August 2010. This was mainly due to maintenance shutdowns carried out at platforms operating in the Marlin and Marlin Leste fields in the Campos Basin, and to the completion of the Extended Well Test (EWT) in the Guará area, located in the Santos Basin pre-salt region.

International production

The volume of oil and natural gas lifted from fields located in countries where Petrobras operates in August averaged 233,513 barrels of oil equivalent per day (boed), down 3.9% compared to last July. When compared to August 2010, the volume ped 5.4%, mainly due to operating issues at the platform in operation in the Akpo field, and to the commencement of tax payments in oil at the Agbami field in 2011 (both in Nigeria).

Natural gas production abroad totaled 17.231 million cubic meters, a 6.6% increase over a year ago and a slight 0.4% decrease compared to July 2011.

Total output

Petrobras’ daily oil and natural gas output in Brazil and abroad averaged 2,555,393 barrels of oil equivalent (boed) in August. This was 0.48% lower than July 2011 and 1.66% less than the amount recorded in the same month of 2010.

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Source: Petrobras,September 22, 2011;