Record production in 2020

Petrobras informed the market on Thursday, 7, that it set an annual production record in 2020.

According to the document released by the Brazilian oil major, it recorded a production of 2.28 million bpd of oil and 2.84 million boed.

The previous records occurred in 2015, with 2.23 million bpd of oil and 2.79 million boed. “The current production records are supported by a portfolio of assets with a higher value”, informed the company.

In addition, pre-salt production totaled 1.86 million boed in 2020, representing 66% of the state oil company’s total production. In 2015, it corresponded to only 24% of total production.

According to the company, the boost in production occurred due to the following factors:

  • Production above the nominal processing capacity in the Búzios field due to the greater temporary availability of energy generation and gas compression on the platforms in the field.
  • Fewer interventions to combat CO2 corrosion in underwater gas injection pipelines due to the development of new inspection tools and technologies.
  • Less decline in production in the Tupi and Sapinhoá fields due to better performance of the reservoirs.
  • Greater production efficiency and optimization of production stoppages on platforms despite the scenario of operational restrictions resulting from the impacts caused by the Covid-19 pandemic.

Finally, “The records demonstrate the good operational performance even in the challenging scenario of 2020, with a greater focus on world-class assets in deep and ultra-deep waters, where Petrobras has shown great competitive differential”.

Source: Petrobras

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