Petrobras Announce Third Quarter 2014 Operational Performance

Petrobras Announce Third Quarter 2014 Operational Performance

In the 3rd quarter of 2014, oil and NGL production in Brazil rose 9% from the same period of 2013, reaching an average of 2 million 90 thousand barrel per day (bpd), mainly, due to production ramp up of P-58, P-55, P-62 and FPSO Cidade de Paraty, and the start-up of extended well testes (EWTs) in Iara Oeste and Tartaruga Verde. Production operated by Petrobras reached 2 million 207 thousand bpd in the quarter.
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Oil production reached an average of 2 million 126 thousand bpd in October, which represents a new record, surpassing last year´s record reached on December 2010. October was the Company´s ninth consecutive month of oil growth production in the country.

Natural gas production in Brazil rose 7% from last quarter, reaching 441 thousand bpd in the 3rd quarter of 2014 due to production increase in Mexilhão, Uruguá-Tambaú, Sapinhoá and Lula Nordeste fields.

Fifteen (15) new production wells were connected in the 3rd quarter, totaling 46 wells during nine months of 2014. The expectation for the 4th quarter is the connection of 16 production wells, finalizing 62 interconnections in 2014, practically the double of interconnected production wells in 2013 (34 wells).

Our Pipe-laying Support Vessels (PLSVs) fleet reached 18 units in October 2014, and together with the arrival of another vessel until December, we will end the year with 19 vessels.

The PROEF (Campos Basin Operational Efficiency Increase Program) contributed to an additional oil production of 164 thousand barrels per day in the 3rd quarter of 2014. The operational efficiency of Campos Basin Operational Unit (UO-BC), which represented 68% in the 2nd quarter of 2012, reached 81% in the 3rd quarter of 2014. Moreover, in September, UO-BC reached the highest oil production of the last 20 months (420 thousand bpd) and the most efficiency in the last 50 months (82,4%).
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Pre-salt production kept excellent performance, reaching another daily production record in September 18th, 2014, totaling 618 thousand bpd, through 29 wells, all in excellent productivity. This record was once again overcome in October 28th, when Campos and Santos Basins registered 640 thousand bpd through 31 wells. These flows include the share operated by Petrobras to its partners companies.

New production systems will start-up in the 4th quarter of 2014 with an even higher production expectation.
Besides FPSO Cidade de Mangaratiba, in Iracema Sul field, which started producing in October 14th, 20 days ahead of schedule, in the coming weeks two other platforms will start production: FPSO Cidade de Ilhabela, which is already anchored at Sapinhoá and with first well connection operations in progress; and P-61, ready anchored on site at Papa-Terra field (Campos Basin post-salt). Also, under way is drilling rig SS-88, which will allow the beginning of drilling of the first well to be connected to P-61. Thus, 2014 will register the start-up of 5 new platforms, repeating 2013´s milestone.

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Source: petrobras

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