New Wells Give Petrobras an 8.6% Oil Production Boost

Petrobras The Brazilian state-controlled oil company Petrobras recorded an average daily oil production of 1,827,392 barrels per day in the month of June, 8.6% more than the result achieved in the same month of last year, representing an increase of 145,000 barrels in the average daily production.

Compared with the month of May, average daily production has increased by 66,000 barrels.

The data were disclosed on Tuesday, July 17, by the press office at Petrobras, and indicate that the increase in production was a result of the entry in operation of the compression system at the P-34 platform, located in the Jubarte Field, in the Campos Basin in the southeastern Brazilian state of Rio de Janeiro.

The results are also due to the beginning of production in several production wells in the field of Golfinho, in the Espí­rito Santo Basin, and in the fields of Espadarte and Marlim, in the north of Rio de Janeiro.

Still according to the Petrobras press release, there has been an "increase in operational efficiency in all of the company's business units turned to exploration and production."

Brazilian natural gas production reached 43,300,000 cubic meters per day, an increase of 2.9% over the volume recorded in May this year, which was 41,800,000 cubic meters per day.

The combined production of oil and natural gas in Brazil in the month of June reached a daily average of 2,097,872 barrels of oil equivalent, a result 6.9% higher than recorded in June 2006, and 3.6% higher than recorded in the previous month.

If production in fields in foreign countries is considered, then the total production volume of the company has reached an average of 2,342,928 barrels of oil equivalent per day, which according to the Petrobras is 6.3% more than the production volume achieved in the same month of last year.

ABr

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