Brazil oil output exceeds 1 bi barrels, sets new record

Over 60% of the oil extracted in 2019 comes from the pre-salt region

Published in 23/01/2020 - 10:56 By Douglas Corrêa - Rio de Janeiro

Brazil set a new record for oil production in 2019 and exceeded the 1 billion barrels a year threshold for the first time. The exact output stood at 1.018 billion barrels—up 7.78 percent from the amount produced in 2018, 944.117 million barrels.

In December 2019, oil production totaled a daily 3.106 million barrels, up 0.52 percent from the record set in the previous, and up 15.44 percent from December 2018.

Pre-salt

The production of pre-salt oil in 2019 was reported at 633.980 million barrels of oil and 25.906 billion cubic meters of natural gas, which corresponds to expansions of 21.56 percent and 23.27 percent, respectively, against 2019, when the country produced 521.543 million barrels of oil and 21.016 billion cubic meters of natural gas.

In December, pre-salt production accounted for 66.82 percent of the country’s output, adding up to 2.655 million of barrels of oil equivalent a day, with 2.118 million barrels of oil and 85.4 million cubic meters a day of natural gas. Compared to the previous month, the daily production increased 2.58 percent from December 2018 (40.62%).

The Lula Field, in the Santos Basin, was once again the biggest producer of oil and natural gas, with 1.074 million barrels a day of oil and 45 million cubic meters a day of natural gas in December.

Translation: Fabrício Ferreira -  Edition: Fábio Massalli / Nira Foster

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