Economy

Brazil posts record-breaking oil and natural gas production in June

The output stood at 4.324 mi barrels of oil equivalent per day

Cristina Indio do Brasil

Published on 01/08/2023 - 15:51

Brasília

A view of the final stage of the construction of new P-56 semi-submersible production platform for the oil company Petrobas at the Brasfels shipyard in Angra dos Reis, about 115 miles (185 km) west of Rio de Janeiro February 24, 2011. The P-56 will be positioned at depths of 1,700 meters (1.05 miles) and about 124 km (77 miles) off the coast. It will have a processing capacity of 100,000 barrels of oil and 5.2 million m3 of natural gas per day, Petrobras said. REUTERS/Sergio Moraes (BRAZIL - Tags: ENERGY BUSINESS) — © REUTERS/Sergio Moraes/Proibida reprodução

In June, Brazil produced 4.324 million barrels of oil equivalent per day. Of this total, 3.367 million were oil and 152.258 million cubic meters were natural gas—the highest ever recorded.

The figures were disclosed on Tuesday (Aug. 1) in the monthly report by national oil agency ANP.

The production of oil saw a 5.2 percent increase from May and 19 percent surge from June 2022. This represents the largest volume of oil production ever documented, surpassing the record set in January 2023, with a production of 3.274 million barrels per day.

As for natural gas, output rose by 5.4 percent from the previous month and 14.6 percent from June 2022. This also sets a new record, exceeding the production level from October 2022, which stood at 149 million cubic meters per day.

Source

The offshore fields accounted for 97.6 percent of the oil production in June and 83.2 percent of the natural gas. The fields operated by Petrobras—either independently or in partnership with other companies—accounted for 88.3 percent of the total.

The amount stemmed from 6,305 wells, with 514 located offshore and 5,791 onshore. Leading the individual production charts was the Tupi field, located in the pre-salt reserves of the Santos basin, contributing 790 thousand barrels of oil per day and 37.78 million cubic meters of natural gas per day.