Petrobras oil and gas output increases over last year

stenamaxdrillshipState-owned oil company Petrobras said its oil and natural gas output in Brazil for June jumped 4% ias compared with a year earlier. Production was 2,407,366 barrels of oil equivalent per day (boed) in June, 4% more than the 2,315,117 barrels produced a year earlier and a 2% increase over May 2011. Domestic natural gas production was 57.317 million cubic meters per day in June. This was 6.9% more than the same month in 2010, and 0.7% above last May.

Figuring in the exclusive production of oil from domestic fields, Petrobras had an increase of 2.2% compared to the previous month's output, and of 3.5% over June 2010. The resumption of production at platforms that had been undergoing scheduled maintenance in the Campos Basin, and operations starting at another well connected to platform P-57, in the Jubarte field (Espírito Santo portion of the Campos Basin), contributed to these results. The Extended Well Test (EWT) for the Aruanã field, in the Campos Basin, was also kicked off in late June.

The volume of oil and natural gas lifted from fields located in countries where Petrobras has operations reached 234,142 boed in June, 4% more than the previous month due to the greater demand for Bolivian gas and to the growth in production at the gas fields in Argentina. Compared with June 2010, there was a 5.6% slup due to operating issues and to the payment of taxes in Akpo, Nigeria.

Overseas, the exclusive production of oil amounted to 133,071 barrels/day, while natural gas output was 17.17 million cubic meters per day in June.

Petrobras’ average oil and natural gas production (Brazil and abroad) added up to 2,641,508 barrels of oil equivalent per day (boed), 2.13% more than the total in May 2011.

July 21, 2011

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