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Brazilian Oil Company Petrobras Reaches Production Record

Petrobras platform Average oil production at state-controlled multinational Petrobras' oil fields in Brazil in September reached the monthly record high of 1,897,563 barrels/day, surpassing by 12,400 barrels or 1% the volume extracted in the previous month. In comparison with the same month last year, the increase was 7.26%.

Natural gas production in Brazil rose 24% compared with the same month last year, and remained at the same level as in August 2008.

Adding up the production volumes in national fields and in the nine countries the company has production activities in oil and gas, extraction by Petrobras in September averaged 2,450,610 barrels of oil equivalent (BOE) per day.

The volume represents growth of 7.6% over September 2007, and is equivalent to the previous month. Total output (Brazil and abroad) of oil alone by Petrobras was 2,023,413 barrels/day, growth of 6.6% over the same month last year and of 0.7% over August.

In September, combined production (oil and gas in boe's) in foreign countries reached 222,909 boe/day, having remained stable in comparison with the month before.

From that total, 208,411 boe/day came from companies controlled by Petrobras, and 14,498 boe/day from associated companies. Oil production in foreign fields totaled 124,850 barrels per day, also the same level as in the previous month.

Production n the field of Agbami, in Nigeria, where Petrobras operates in partnership with other companies, started in July and, in September, it reached 8,667 barrels/day. Besides Agbami, also in Nigeria, the field of Akpo is under development.

The share of Petrobras is these two fields should reach 65,200 barrels/day. The increase in production in Nigeria made up for the decrease in output in the United States, as a result of preventive interruption of activities due to a hurricane in the Gulf of Mexico.



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