Brazil Reaches Self-Sufficiency in Oil Before Christmas

The president of the state-owned Brazilian oil company Petrobras, José Sérgio Gabrielli, says that self-sufficiency in petroleum production in Brazil should be reached next month when production levels are at 1,810,000 barrels daily.

Gabrielli went on to say that with the inauguration of the P-50 platform, which is taking place today in the presence of President Luiz Inácio Lula da Silva, the country will consolidate its self-sufficiency.

"When we talk about self-sufficiency, we mean sustainable self-sufficiency. And that means daily production levels consistently above demand," said Gabrielli.

Sustained self-sufficiency will be reached next year when three other platforms go into operation (one in the state of Sergipe and two in Espí­rito Santo), which will bring the daily production average up to 1,910,000 barrels.

In three years, since 2002 when production was 1.5 million barrels per day, Brazilian petroleum production has risen at one of the fastest rates in the world (over 27%).

ABr

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