Petrobras’ pre-salt production passes 700,000 bopd

12/24/2014

Petrobras’ pre-salt production passes 700,000 bopd

RIO DE JANEIRO -- Oil production in fields operated by Petrobras, in both the Santos and the Campos basins pre-salt, reached the historical 700,000 bpd mark on Dec. 16, the company has reported. About 74% of this volume (523,000 bopd) corresponds to the company´s share and 26% correspond to its partners.

The production of 700,000 bopd was reached only eight years after the first oil discovery at the pre-salt layer, in 2006, and only six months after it hit the 500,000 bopd mark in June. This production represents a significant milestone for the oil industry, especially due to the fact that these fields are located in deep and ultra-deep waters.

Only 34 production wells contributed to the 700,000 bopd mark, which proves the high productivity of the fields already discovered on the pre-salt layer. Sixteen of these wells are located in the Santos basin, which is responsible for 61% of the volume produced in the pre-salt -- approximately 429,000 bopd. The remaining 18 wells are located in the Campos basin and are responsible for the remaining 39% -- 273,000 bopd.

Currently, the pre-salt oil is produced by 12 different platforms, eight of which produce exclusively from that geological layer.

The production increase is due to the excellent operational performance of the well construction and interconnection activities, with support from two strategic programs: the Well Cost Reduction Program (PRC-Poço) and the Subsea Installations Cost Reduction Program (PRC-Sub). These programs integrate initiatives that are incorporating continuous improvements in reducing duration and costs, not only on wells, but also at subsea installations of upstream projects.

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