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Petrobras crude oil production slides 2.3% in February

RIO DE JANEIRO -- Petrobras, said late Thursday that domestic oil output fell for a second consecutive month in February as maintenance shutdowns at offshore platforms undercut crude output.

Petrobras said that domestic crude-oil output fell 2.3% to 1.92 MMbopd, down from 1.965 MMbopd in January. Output from overseas operations fell slightly to an average 149,100 bopd, down from 149,300 bopd in January.

Domestic crude oil production was undercut by maintenance shutdowns at four offshore platforms at several of Brazil' s highest-producing fields in the Campos Basin during the month, Petrobras said. The P-33 and P-37 platforms at the Marlim field were joined by the P-53 platform at the Marlim Leste field and the P-54 platform at the Roncador field in shutting down for refurbishing, Petrobras said.

The maintenance work offset production gains at three new platforms that have entered operation so far in 2013, Petrobras said. In February, a long-term well test was started at the Sapinhoa Norte subsalt field and the FPSO Cidade de Itajai floating production, storage and offloading vessel initiated production, Petrobras said. The two platforms joined the FPSO Cidade de Sao Paulo, which started pumping oil from the Sapinhoa field in January.

Earlier in February, Chief Executive Maria das Gracas Foster said that the company faced a full schedule of maintenance shutdowns to overhaul some of the company' s aging offshore platforms. While output is expected to pick up in the second half of the year as new platforms start producing crude, Petrobras expects production to remain stable with 2012' s output of about 1.98 million barrels a day.

Domestic natural-gas output also was down 1.9% month-to-month in February at 62.9 MMcfd, Petrobras said.

Total crude oil and natural gas production was 2.56 MMboe, in February, down from 2.61 million BOE in January, Petrobras said.

Dow Jones Newswires



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