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Petrobras' December 2018 output increases 3.3% on month due to new wells

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Petrobras' December 2018 output increases 3.3% on month due to new wells

State-controlled Petróleo Brasileiro SA - Petrobras reported Jan. 15 that its oil and natural gas output, including natural gas liquids, in December 2018 was 2.70 million barrels of oil equivalent per day, rising 3.3% on the month.

Of this figure, 2.64 MMboe/d was produced in Brazil while 63,000 boe/d was produced abroad.

The company's total operated production in December 2018, which includes Petrobras and its partners, amounted to 3.4 MMboe/d with 3.3 MMboe/d in Brazil.

Petrobras said the monthly increase in output was mainly due to the interconnection of new wells in the FPSO Cidade de Campos dos Goytacazes, located in the Tartaruga Verde field, in the post-salt of the Campos Basin, as well as the end of the maintenance stoppages at the FPSO Cidade de Ilhabela in the Sapinhoa field and the P-18 platform in the Marlim field.

With the start-up of four new production systems and the ongoing development of the pre-salt output, in line with its expectations, for the full year 2018, the major's total output reached 2.63 MMboe/d, 2.53 MMboe/d of which was produced in Brazil and 101,000 boe/d of which was produced abroad. For 2019, Petrobras expects total production will reach 2.8 MMboe/d.

Petrobras' own oil output in Brazil in 2018 was 2.03 MMboe/d. Total 2018 operated production for Petrobras and its partners was 3.29 MMboe/d, with 3.16 MMboe/d produced in Brazil.