Wednesday, May 26, 2010

Brazil Petrobras April Total Gas, Oil Production 2.599M BOE/Day

RIO DE JANEIRO (Dow Jones)--Crude-oil and natural-gas output at Petrobras (PBR) rose in April, thanks to record output from domestic oil fields, the Brazilian state-run energy giant said Tuesday.

Petrobras said that overall daily oil and gas production reached an average 2.599 million barrels of oil equivalent, or BOE, a day in April. That was up 1.7% from 2.556 million BOE a day in March.

In Brazil, Petrobras domestic oil production rose 1.9% to a record average of 2.033 million barrels a day in April, up from March's output of 1.994 million barrels a day. That topped the previous record of 2.004 million barrels a day set in September 2009. April's production was also up 2.9% from April 2009, Petrobras said.

The federal oil company has increased output in recent months as production ramps up at several platforms installed over the past 18 months. The company also expects to post production records later this year as two new platforms come onstream.

The FPSO "Cidade de Santos" will start operations at the Urugua-Tambau field, while the FPSO "Capixaba" will start producing from the Cachalote-Baleia Franca field. FPSO stands for floating production, storage and offloading vessel.

Petrobras cited new wells connected to the FPSO "Cidade de Vitoria" at the Golfinho field off the coast of Espirito Santo state, as well as new wells at the Marlim Leste field in the Campos Basin. A long-term well test at the Tiro field in the Santos Basin also contributed to the boost in output, Petrobras said. The well test started March 19.

The company also started output from new wells at two inland fields, Rio Urucu and Leste do Urucu in the Amazonas Basin.

In addition to the monthly production record, Petrobras also set consecutive daily production records for total output. The company produced 2.082 million BOE and 2.084 million BOE, respectively, on April 23 and April 24.

International crude oil production also advanced. Petrobras produced an average of 151,400 barrels of crude a day in April, up from 149,600 barrels a day in March.

Domestic natural gas output also rebounded from recent demand-related declines. Production rose to 51.5 million cubic meters a day in April, up from 50.1 million cubic meters a day in March.

Natural gas output at Petrobras's overseas facilities, however, slid to 15.32 million cubic meters a day in April, down from 16.53 million cubic meters a day in March.

-By Jeff Fick, Dow Jones Newswires; 55-21-2586-6085;

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