Brazil: Petrobras’ July Gas Output Climbs 8 Percent

Petrobras” Brazilian natural gas output was 56.713 million cubic meters per day in July. This shows an 8% increase compared to the same month in 2010 and remained at the same level as June 2011.

As a result of maintenance programs on platforms operating in the Campos Basin, Petrobras” Brazilian oil and gas production in July remained at the same level as July 2010 (with only a 0.5% decrease), and 3.5% lower compared to the previous month. Brazilian production averaged 2,325,068 barrels of oil equivalent per day (boed) in July.

Considering the exclusive oil production from domestic fields, the Company showed a decrease of 1.8% compared to July 2010 and 3.8% over June this year.

International production

Volumes of oil and natural gas reached 242,899 barrels of oil equivalent per day (boed) from countries where Petrobras has operations. This being 234,566 boed produced by Petrobras subsidiaries, and 8,333 boed coming from associates.

This shows an increase in volumes of 3.7% when compared to June 2011 production, being due to productivity gains in Agbami, Nigeria, and better performance of the 2010/2011 campaign wells in Medianito and Puesto Peter, in Argentina.

Total production

The company”s total average oil and natural gas production (Brazil and abroad) was 2,567,967 in July. Volumes remained constant compared to July 2010, and 2.78% lower in relation to the previous month.

Source: Petrobras, August 25, 2011;

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