State-owned oil and gas production rises by 3.7% in 2023 and reaches the target

Rio de Janeiro (Reuters) – Petrobras (Peter4) produced 2.78 million barrels of oil equivalent per day in 2023, an increase of 3.7% compared to the previous year, with important progress in the pre-salt phase, but slightly below the estimated target position for this year, the company said in a statement on Friday.

The company added that commercial production of oil and natural gas amounted to 2.44 million barrels per day, while the total oil production alone reached 2.24 million barrels per day.

The company's goal was to produce 2.8 million barrels of oil equivalent, which can vary by plus or minus 2%, according to a review filed in November.

The forecast for oil production alone was 2.2 barrels.

“Among the most notable achievements of 2023, the company reached an annual record for its total production of oil and natural gas in the pre-salt region, at 2.17 million equivalent equivalents, exceeding the previous record of 1.97 million equivalent equivalents, in 2022 and representing 78% of the amount,” the company said. “Our total production.”

The company also said it also reached a record for total operating production of oil and natural gas at 3.87 million barrels equivalent, surpassing the previous record of 3.64 million equivalent, as of 2022.

In 2023, the company commissioned four new platforms in the pre- and post-salt areas, contributing to this result.

Throughout the year, the company also highlighted that the maximum oil production capacities of the platforms P-71, in the Itapu field, FPSO Guanabara, in the Mero field, and FPSO Almirante Barroso, in the Buzios field, had been reached. The last, which occurred in October 2023, less than five months after the first oil appearance, set a pre-salt record.