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Petrobras says it will increase production capacity by 1M barrels per day in 2013

This year, Petrobras bring online nine new production units in a single year for the first time; the installed production capacity of the platforms amounts to 1 million barrels per day. The units coming on stream will be essential for the company to double its current production and achieve the target of 4.2 million barrels of oil per day for 2020, said Petrobras president, Maria das Graças Silva Foster, during a lunch-lecture at the Offshore Technology Conference (OTC Brazil 2013) in Rio de Janeiro.

  • Of the nine units starting production this year, the FPSOs (floating production, storage and offloading) Cidade de São Paulo, Cidade de Itajaí and Cidade de Paraty had already come on stream.

  • Another two units—the FPSO P-63 and P-55—are already in place and the P-58 should leave the Rio Grande ship yard going towards Parque das Baleias later this month.

  • Besides these, the P-61, the TAD (Tender Assisted Drilling) which was built in China, and the P-62 will arrive at their final locations in December.

In five or six years time, The “P” for production will be more important for us than the “E” for exploration”, the president said, comparing the effort and investment used to increase the Oil Company’s production with exploration activities aimed at new discoveries.

The President also highlighted the growth of the shipbuilding industry in recent years.

Silva Foster celebrated the success of pre-salt exploration, which reached 100% in 2013. She said that 13 wells have been drilled in the pre-salt this year, and Petrobras has found oil in all of them, which she rated as “spectacular”. Altogether, 144 exploratory wells have been drilled in the pre-salt attaining an 82% success rate.

Our exploration success is impressive. If we count offshore and onshore wells, we have a 65% rate, which is far higher than the global average”, she compared. She pointed out that Brazil accounted for 62% of large deepwater discoveries world-wide between 2007 and 2012.

On the newly auctioned Libra area, in which Petrobras has a 40% stake, the President expects the first oil to be extracted in 2020.


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