Oil, gas production up for Petrobras

Nov. 27, 2012 at 6:57 AM
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RIO DE JANEIRO, Nov. 27 (UPI) -- Oil production from Brazil for October rose more than 5 percent and gas production was up more than 3 percent from the prior month, an oil company there said.

Petroleo Brasileiro, known also as Petrobras, said oil production in the country reached 1.94 million barrels per day in October, a 5.3 percent increase from the previous month. Natural gas production reached 2.2 trillion cubic feet for October, a 3.5 percent increase from September totals.

"This result was mainly due to the return to operations of other platforms that were under maintenance in September and to the start up of floating production, storage and offloading Cidade de Anchieta in Campos basin pre-salt, in the area known as Whales Park, in the coast of the Espirito Santo state," Petrobras said in a statement.

FSPO production there has the capacity to process 100,000 barrels of oil and about 120 million cubic feet of natural gas per day.

Petrobras said it didn't include volumes in areas where it wasn't the operator.

Brazil ranks second behind Venezuela in terms of proven oil reserves in South America.

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