Brazil’s Oil Production Abroad Grows 8%

Petrobras in the Gulf of Mexico Petrobras, Brazilian state-controlled oil multinational, had average international oil and gas production of 218,117 barrels of oil equivalent a day in the month of June. This information was disclosed by the company on July 15.

According to Petrobras, there was an 8.1% increase over the previous month. Of the total produced abroad, 204,171 barrels come from companies controlled by Petrobras and 13,946 barrels were produced by partner companies.

When added to the volume extracted in national fields, total Petrobras production in June was record, reaching 2,421,155 barrels of oil equivalent, 3.3% greater than that of June 2007 and 2.3% greater than in the last month of May.

There was also a monthly record in the production of oil in national fields in June, 1,867,336 barrels a day, 4.2% greater than the average in 2007. Petrobras production of natural gas in Brazil and abroad was 70.517 million cubic meters a day, 12.1% over the same month in 2007 and 8.9% over May 2008.

Natural gas production in Brazil was 53.372 million cubic meters per day in June, up 24.1% over the same month last year and 7.7% over May of the current year, when production reached 49.554 cubic meters.

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Petrobras has notified the National Petroleum, Natural Gas and Biofuel Agency (ANP) about the discovery of a new high-quality oil producing area in the Basin of Espí­rito Santo (Southeast Brazil).

According to the oil giant, the discovery was made within the area of the Golfinho field, 60 kilometers away from state capital Vitória, at a depth of 1,374 meters.

"Initial estimates point to a potential of 150 million barrels of recoverable oil," the company stated in the release.

To the state-owned company, the finding "opens up new vistas with regard to exploration in the area, and has the advantage of being located near the infrastructure already installed at the Golfinho Field." The company believes that the new area may become operational soon.

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