By Brazil Stock Guide – Brazil’s state-controlled oil producer Petrobras (PBR) increased oil and natural gas production by 17.2% in January from a year earlier, reaching 3.165 million barrels of oil equivalent per day (boed).
Average oil production totaled 2.4 million barrels per day (bpd), while natural gas output stood at 120.1 million cubic meters per day.
Brazil’s overall oil and gas production reached 5.168 million boed in January, up 15.8% from the same month a year earlier. Crude oil output totaled 3.953 million bpd, down 1.5% from the previous month.
Natural gas production reached 193.16 million cubic meters per day. The figure marked a 0.6% decline from December but a 20.2% increase compared with January last year.
Pre-salt fields continued to dominate Brazil’s production profile. Output from these areas totaled 4.129 million boed, accounting for 79.9% of national production. Volumes were 1.8% lower than in December but 19% higher year over year.
Of the pre-salt total, 3.167 million bpd were crude oil and 152.98 million cubic meters per day were natural gas, produced from 177 wells.
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