Petrobras production spurts by 1.4 %

Posted By: Religare
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Petrobras production spurts by 1.4 %
Brazil's biggest oil and gas company, Petrobras has witnessed 1.4 per cent spurt in its production from the domestic and overseas assets, touching the mark of 2.62 million barrels of oil equivalent in 2011.

The major contributory in the rise of the production was domestic output, which surged 1.7 per cent year-on-year at an average of 2.38 million barrels of oil equivalent, the company said.

On the whole, the production in the month of December rose to 2.72 million barrels of oil equivalent, up 1.7 per cent in comparison to last month production. The increase in the production was mainly due to better-than-expected performance of the new wells located at the Jubarte and Marlim Sul fields in Brazil's Campos basin, and the Lula field in the Santos basin.

Petrobras is the 8th biggest company in the world in terms of market value, operating in 29 countries, performing exploration and production; downstream; trade, transportation and petrochemicals; derivative distribution; natural gas; bio-fuels, and electric energy.

Dion Global Solutions Ltd

Read more about: oil and gas, production
Story first published: Friday, January 20, 2012, 13:31 [IST]
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