Petrobras reported average production of oil, gas and NGL of 2.7 MMboe/d in second-quarter 2024, up 2.4% year-over-year from 2.64 MMboe/d as Brazil’s state-owned oil company’s offshore production continued to ramp up.

Quarterly production increases were aided by ramp-ups at FPSOs Almirante Barroso, P-71, Anna Nery, Anita Garibaldi and Sepetiba. Petrobras also saw an increase with the start-up of 12 new wells from complementary projects — eight in Campos Basin and four in Santos Basin, Petrobras said in its second-quarter earnings release press release on July 29.

Rio de Janeiro-based Petrobras said oil exports in second-quarter 2024 were in line with the previous quarter in terms of volume and market destinations. China (with 50%) and Europe (30%) accounted for around 80% of total oil exports, Petrobras said.

Oil from the Búzios region continues as the main stream in Petrobras’ export basket, accounting for almost half of the volume exported, the company said.

FPSOs roll out

State-owned Petrobras expects the FPSO Marechal Duque de Caxias to commence operations in the second half 2024. The FPSO has capacity to produce up to 180,000 bbl/d of oil and 12 MMcm/d of gas.

The FPSO Marechal Duque de Caxias reached Brazil in May. It is anchored in the Mero Field, in the Santos Basin pre-salt. The FPSO will be the field's third definitive production system.

The FPSO Maria Quitéria is sailing to Brazil and should arrive on location in the next few weeks,” Petrobras President Magda Chambriard said in the release.

“The unit is scheduled to start operating in the last quarter of 2024, thus bringing forward the 2024-2028+ Strategic Plan (SP) schedule, which forecasted operations starting up in 2025,” Chambriard said.

The FPSO Maria Quitéria left a China shipyard in May. The FPSO will operate in the Jubarte Field, located in the Campos Basin pre-salt, on the coast of Espírito Santo. The FPSO has a production capacity of 100,000 bbl/d of oil and 5 MMcm/d of gas.

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