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Petrobras' Q3 output climbs with boost from pre-salt production

Petróleo Brasileiro SA said its third-quarter oil, NGL and natural gas production increased to 2.88 million barrels of oil equivalent per day, compared to 2.51 million boe/d in the year-ago period.

The company said the higher output was driven by a 17% increase in pre-salt production, which had a total output of 1.37 million boe/d, according to an Oct. 17 news release from the company, also known as Petrobras. The figure represents 60.4% of oil production in Brazil, Petrobras said.

Petrobras attributed the boost in pre-salt production to the ramp-up of six platforms in the Búzios and Lula deepwater oil fields, both located in the Santos Basin off the coast of Rio de Janeiro.

Petrobras said it is on track to reach its production target of 2.7 million boe/d for the year.