Petrobras expects start-up of FPSO Almirante Barroso in 2Q23 as diesel, gasoline and jet fuel yields increase in 1Q23

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Petrobras, the Brazilian state-run oil and gas company, on May 9 announced that its average oil, natural gas liquids (NGL), and natural gas production reached 2.68 million barrels of oil equivalent per day (MMboed) in the first quarter of 2023. This represents a 1.1% increase from the previous quarter, mainly due to the start of the ramp-up of P-71 vessel in Itapu field and the start-up of eight new wells in Campos Basin and higher production efficiencies in the platforms.

In February 2023, Petrobras reported that its pre-salt production reached a new monthly record of 2.13 MMboed, and a quarterly record of 2.05 MMboed, equivalent to 77% of its total production, up from 75% in the previous quarter. And this was due to the start-up of FPSO Guanabara in the Mero field, which achieved a monthly production record with an average oil production of 179,000 barrels per day (bpd).

Exploration & Production Director Joelson Mendes expressed his satisfaction with the achievement, saying, “Achieving another record, this time just 10 months after the unit’s first oil and with four producing wells, reinforces the enormous potential of the Mero field and is the result of the capacity and commitment of our technical team and partners to overcome challenges.”

The FPSO Almirante Barroso is expected to start operating in the Búzios field in 2Q23. The Anna Nery vessel recently achieved start-up. The two units have a combined nominal oil production capacity of 220,000 bpd and will contribute significantly to Petrobras’ production growth in the coming quarters.

In terms of refining, diesel, gasoline, and jet fuel, Petrobras’ yield in 1Q23 reached 67% of its total production. 

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