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Brazil crude oil output slides 2.4% - ANP

BY JEFF FICK

RIO DE JANEIRO -- Brazilian crude oil output slid for the first time in 4 months in January as the end of long term well tests undercut production to start 2013, the National Petroleum Agency (ANP), said.

Brazil produced an average 2.054 MMbopd in January, down 2.4% from December and 7.9% from January 2012, the ANP said.

Oil production in Brazil was expected to decline in the first half of 2013 because of continuing maintenance work at aging offshore platforms operated by Petrobras. Brazil also has encountered productivity declines at mature fields in the offshore Campos Basin, which accounts for the majority of the country' s crude.

The troubles have offset new production from the country' s much anticipated subsalt fields, a series of ultra deepwater oil discoveries buried under a thick layer of salt off the country' s Atlantic Ocean coast. Brazil' s subsalt region, where new wells recently have increased production, produced 264 Mbopd in January, the ANP said.

Natural gas production also fell slightly, sliding to 75.9 MMcmpd in January from a record of 76.2 MMcmpd in December, the ANP said.

Dow Jones Newswires

03/07/2013

 

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