Brazil’s oil production for the first time surpassed the threshold of 3 million barrels a day, reaching 3.09 million in November, as per data released today (Dec. 23) by the country’s National Agency for Oil, Natural Gas, and Biofuels, ANP.
Petrobras estimates investments to total $75.7 billion in the next five years starting in 2020. The company's new business plan was approved Wednesday (Nov. 27) by its administrative board. Roughly 85 percent of the investment should go towards exploration and production.
The total production of oil and gas of Petrobras averaged a daily 3 million barrels of oil equivalent in August this year. The output peak reached 3.1 million barrels in one day, in record figures.
Brazil is on its way to becoming one of the world’s leaders in oil production in the next ten years, said Felipe Kury, director of the National Agency of Petroleum, Natural Gas and Biofuels (ANP), during a seminar held as part of bidding rounds for oil and natural gas explorat
Petrobras closed out June with an average production rate of 2.9 million barrels of oil equivalent per day (boepd), a record-breaking monthly average. The previous mark had been set in August 2015, with 2.88 million boepd.