Petrobras Reports Record Production

Total production of oil and natural gas from Petrobras, in December 2014, in Brazil and abroad, reached the average of 2 million 863 thousand barrels of oil equivalent per day, the best result reached in the history of the company, Petrobras reported. This volume is 4.4% higher than in November, which was 2 million 741 thousand boe.

The company beat, too, in December, its record oil and liquid natural gas in Brazil, reaching a monthly average of 2 million 212 thousand barrels of oil per day (bpd). This volume is 4.8% higher than that produced in November, which was 2 million 111 thousand bpd.

During the 12 months of the year, production of the company in Brazil increased 15.4% from the monthly average of 1 million 917 thousand bpd in January, 212,000 to 2 million bpd in December, which shows the strong pace of output growth in the year. It is also important to emphasize the production of oil and NGL achieved by the company on December 22, which reached 2 million 300 thousand barrels, the highest level in four years, setting a new daily record.

The total production of oil and natural gas in Brazil, in December, was also the highest in the history of the company. He reached 2 million 675 thousand barrels of oil equivalent per day (boe), 4.6% more than the volume produced in November, which was 2 million 556 thousand boe. The total production of oil and gas operated by the company, which includes part of its partners, stood at 2,000,000 917,000 boed in December, establishing also a new historical record.


More records in the pre-salt
nother result of great importance for the company was the production in pre-salt layer. In December, it reached an average of 666,000 barrels of oil per day, exceeding by 10% the previous record, set in October of the same year, which was 606,000 bpd.

On day 21, also in December, the company was producing 713,000 bpd in the subsalt, a new frame, above the 5.8% in November, from 673,000 bpd.

New interconnected wells
The excellent result of production in December was mainly due to the entry into operation of two large production systems: the FPSO Cidade de Ilhabela, in the field of Sapinhoá; and FPSO Cidade de Mangaratiba, in the area of Iracema Sul, in the field of Lula, both in the pre-salt Santos Basin.

Also contributing to the results achieved in December, the start of production of new wells interconnected systems already in operation. In December, 13 offshore wells began to operate in the Campos and Santos basins, of which ten are producers and three injectors. With them came into operation in the year, 82 new wells, of which 57 are oil producers and 25 injectors gas or water in the reservoirs. It was an important new record, with direct impact on business productivity. It is important to remember that in 2013 were put into operation 47 wells, indicating increased efficiency in interconnecting wells of the company.

The significant increase in the interconnection of wells with production platforms was due in large part to the progressive entry of new vessels pitchers products. The company ended the year with 19 PLSVs (Pipe Laying Support Vessel) in operation, which are vessels that support the interconnection of oil wells. The last ship of this kind was received Estrela do Mar, which came into operation on December 4.

In December, as planned, four platforms temporarily stopped for maintenance: the P-52, which operates in the Roncador field, the FPSO Cidade de Niterói, in the Marlim Leste field, P-57, in the field of Jubarte and the P-9, which operates in the fields of Corvina and Congro, all located in the Campos Basin.

Production of natural gas
The average production of natural gas from Petrobras in Brazil, excluding the liquefied volume in December 2014 was 73 million 515 000 m³ / day. Gas production without my liquefied operated by Petrobras, in December, including the part of the member companies of the company was 84 million 536 000 m³ / day. The results of both local production and the operated also had significant monthly records.

Importantly, the company took in December 94.6% of this gas, either to supply the market, whether for power generation platforms or reinjection into reservoirs in order to increase oil production.
Production abroad

The average production of oil and gas abroad in December was 187,900 barrels of oil equivalent per day (boe), 1.5% above the 185,100 produced in the previous month. In turn, the average oil production in the same month was 99,500 bpd, remaining stable compared with November, which was 99,400 bpd.

The average natural gas production abroad was 15 million 22 thousand m³ / d, 3.2% more than the volume produced in November, which was 14 million 554 000 m³ / day. This increase was due to increased production in the fields of San Alberto and San Antonio in Bolivia, to supply the gas market in Brazil.

In 2014, new annual production record
The total production of oil and gas from Petrobras in Brazil and abroad, in 2014, reached the historic mark of 2 million 670 thousand boed, 5.1% above the 2013 volume, which was 2 million 540 thousand boe , which is configured in an important record for the company.

The oil and NGL production in Brazil grew 5.3% in 2014, compared with 2013, from average of 1 million 931 thousand bpd to 34,000 bpd 2 million. This volume was also the best annual result obtained by the company in its history. A significant result, given that few public companies in the sector managed to increase the volume produced in the same period. Including surgery to member companies, the company ended 2014 with average of 2 million 148 thousand bpd, an increase of 8.7% compared to the average for 2013, which was 1 million 977 bpd.

The total production of oil and gas company in Brazil increased 6% in 2014, from 2 million 321 thousand boe in 2013 to 2 million 461 thousand boe in 2014.

The production of natural gas, excluding liquefied increased 9.5% in the annual comparison: 61 million 922 thousand m3 / day in 2013 to 67 million 826 thousand m3 / day in 2014. The production of natural gas operated, excluding liquefied in the country, closed 2014 at 76 million 678 thousand m3 / day, an increase of 11.8% compared to 2013.

The gas produced by the company in 2014 had an average utilization of 94.6%. That's the second best annual result of the company history, second only to 2013, when an average utilization of 95.1% was reached. The result in 2014 was already expected, based on the largest number of rigs in operation start, during which a lower gas usage due to the need for testing and stabilization of all new systems occurs.

New production systems
The increase in production in 2014 was mainly due to the contribution of nine new production systems and increased operational efficiency Operations Units of the company. Five of these systems began to operate in 2013 and had new wells interconnected throughout 2014. Four others were installed last year.

Platforms installed in 2013, contributed to this result the P-63, in the Papa-Terra field, and P-55 in the Roncador field, both in the Campos Basin; the FPSO Cidade de Itajai, in the field of Bauna, in the post-salt Santos Basin; in addition to the FPSO Cidade de São Paulo, in the field of Sapinhoá, and Cidade de Paraty, in the area of Lula Nordeste - both in the pre-salt Santos Basin. In turn, production systems which came into operation in 2014 and contributed to this performance were the P-58, in the Parque das Baleias, the P-62 in the Roncador field, both in the Campos Basin, addition to FPSOs Cidade de Mangaratiba, in the area of Iracema Sul, and Cidade de Ilhabela, in the field of Sapinhoá, both in the pre-salt Santos Basin, where the connected wells continue to show excellent productivity. The average production of the first two wells in the FPSO Cidade de Mangaratiba is 33 thousand barrels per day per well, being that in the first producing well the FPSO Cidade de Ilhabela production is at the level of 30,000 barrels per day.
High productivity in the pre-salt

A factor of great importance to the results obtained in 2014 and contributes to successive records was the high productivity of the wells in the pre-salt Santos Basin. It is important to record that the average flow of producing wells, there have hovered around 20,000 boepd. Also, some of these wells exceeds 30,000 bpd, which has significantly contributed to the high productivity of the manufacturing hub, an important economic viability of the area factor.
This high productivity allowed, for example, that the pilot production of FPSO Cidade de São Paulo, in the field of Sapinhoá, and FPSO Cidade de Paraty, in the field of Lula, units reached their maximum production capacity, which is 120,000 bpd, with only four interconnected to each of those units wells.

Operational efficiency
Program Increase Operational Efficiency (Proef) implemented by the company in its Operational Units, in turn, ended the year with excellent results, contributing to the reduction of the natural decline in production from fields in operation. The various initiatives in the program were responsible, in the year for an additional average production of 156,000 bpd on managed by the operating units of the basins of Campos, Espírito Santos and Rio de Janeiro systems. Last December the increase of production reached 194,000 bpd. For example, in 2014, increased operational efficiency achieved by the Operations Unit Campos Basin (UO-BC), formed by many mature fields and from where it originates, still, the bulk of the oil produced by the company, from 75% in 2013 to 80% in 2014, helping to offset the natural decline of these fields. Operational efficiency Unit Operations Rio de Janeiro (UO-Rio) also had excellent results, up from 92% in 2013 to 95% in 2014; and recorded by the Operations Unit Espírito Santo (UO-ES), where Proef recently introduced, which remained at 93% efficiency from one year to another.

Unit Operations North and Northeast, where the onshore production predominates, also end 2014 with excellent operational performance, which reached 95.1%, an increase of 1.3% compared to the target set at beginning of year ensuring the economic viability of operations in the region. There were drilled along that year, 400 new wells, over five thousand interventions in onshore wells were also performed in order to maintain the level of production and improve the recovery factor of reservoirs.

Production of oil and gas abroad in 2014
In 2014 the average oil and gas production abroad was 209,300 boed, 4.6% below the 2013 average was 219,500 boed. The average oil production in 2014 was 115,900 bpd, 9.8% lower than in 2013, which was 128,500 bpd. The average gas production was 15.9 million m3 / day, 2.6% higher than in 2013, which was 15.5 million m3 / day.

Contributed mainly to this result, divestments in Nigeria, Argentina and Colombia. This effect was partially offset by increased production in the United States in the fields of Cascade and Chinook due to the implementation of the project Development of Production.

Production December informed the ANP
Total production December 2014 informed the ANP was 11,258,230 m³ of oil and 2,571,959 thousand cubic meters of gas. This output represents the total production of concessions where Petrobras is the operator. They are not included shale volumes, NGL production and project partners in which Petrobras is the operator.