Petrobras Continues Producing Excellent Results

Petrobras’ Operational Efficiency Improvement Program (PROEF), strategic to achieving the targets in the company’s Business and Management Plan, continues to produce excellent results.

In March of this year, the Rio de Janeiro Operational Unit obtained its best operational efficiency level in the last three years. The unit produced 844,000 barrels of oil per day (bpd) during the month, using 96.2% of its capacity, up from 93% in February. The unit’s all-time record efficiency is 96.4%, obtained in December 2010.

In the Campos Basin Operational Unit, the 80.6% efficiency rate achieved in April has been the best over the last 46 months. As such, after almost four years, this is the first time that the rate has returned to over 80%, demonstrating the consistency of the initiatives implemented by the company for operations to recover of this major oil basin.

PROEF is a management tool implemented in November 2012 to raise Petrobras’ operational capacity utilization in Campos Basin, reinforce workforce safety and preserve the integrity of facilities and equipment.

The program is composed of 13 initiatives, selected internally as areas for improvement and sustainability actions in the production of oil and natural gas in order to contain the natural trend of declining output resulting from the development of reservoirs and the operational performance of equipment. Led by Petrobras’ Operational Units in Campos Basin, the program’s short- and long-term actions involve maintenance and new management systems, and are aligned with the company’s Business and Management Plan.

[mappress]

Press Release, May 08, 2014