Petrobras company flag and Brazilian flag in front of a company building in Brazil. (Source: Shutterstock)
Brazil’s state-owned producer Petrobras reported a near double digit increase in combined production in third quarter 2023 compared to this year’s prior quarter and the same quarter a year ago, mainly due to better operating performance, new wells and the ramp-up of various offshore platforms.
Petrobras’ average production of oil, NGLs and natural gas averaged 2.88 MMboe/d in the third quarter of this year, up 9.1% sequentially compared to the prior quarter and up 8.8% compared to the second quarter last year, the Rio de Janeiro-based company said Oct. 26 in its operational press release.
Production in the most recent quarter was “higher, mainly due to the better operational performance of the pre-salt platforms and the lower losses with stoppages and maintenance, besides the ramp-up of platforms P-71 in the Itapu field, the Almirante Barroso FPSO in the Búzios field and the Anna Nery FPSO in the Marlim field,” Petrobras said.
Additionally, commencement of the Anita Garibaldi FPSO in the Marlim and Voador fields and new wells in complementary projects in the offshore Campos and Santos basins also contributed to production performance in the most recent quarter.
Positive production gains were partially offset by natural declines at Petrobras’ mature fields as well as divestments, the company said.
Petrobras said production in the prolific offshore pre-salt region achieved a new quarterly record at 2.25 MMboe/d, representing 78% of the company’s total production. The new record surpasses a previous record of 2.06 MMboe/d achieved in the second quarter of 2023.
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