Petrobras’ average production of oil, natural gas liquids (NGL) and natural gas in the first quarter of 2024 reached 2.7 million barrels of oil equivalent per day (boe/d), an increase of 3.7% compared to Q1 2023.
Petrobras said the increase is attributed to ramping up of production at the Almirante Barroso, P-71, Anna Nery, Anita Garibaldi and Sepetiba floating production, storage and offloading (FPSO) vessels. Added to this was the start-up of 19 new wells of complementary projects in the Campos (11) and Santos (8) basins.
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The company reported that, compared to the fourth quarter of 2023, production dropped 5.4% because of a higher volume of losses due to shutdowns and maintenance, within the forecast of the 2024-28 Strategic Plan (PE 2024-28), and the natural decline of mature fields.
“These effects were partially offset by the higher contribution of the Almirante Barroso (Búzios field) and P-71 (Itapu field) FPSOs, after reaching the peak of production during Q4 2023, and by the ramp-up of the Sepetiba (Mero field) and Anita Garibaldi (Marlim, Voador and Espadim fields) FPSOs,” the Brazilian state firm said.
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Other updates for the quarter are as follows:
- On March 7, Petrobras started the flow of gas through the P-68 vessel, in the Berbigão and Sururu fields, leading to an increase in gas delivery, through the integrated network of the Santos Basin.
- On February 24, the FPSO Marechal Duque de Caxias left the shipyard in Yantai, China, heading to the Mero field, in the pre-salt of the Santos Basin. The platform, which will be the third definitive production system in the field, is expected to start operating in the second half of this year and can produce up to 180 million barrels per day (b/)d of oil and 12 mega cubic meters per day (MMm³/d) of natural gas.
- In March 2024, the shared deposit of Búzios reached the mark of one billion barrels of oil produced. Currently, the field operates with five platforms: P-74, P-75, P-76, P-77 and Almirante Barroso. Petrobras’ 2024-28 PE horizon foresees the installation of six more units in the field by 2027.
