MercoPress. South Atlantic News Agency

Petrobras oil and gas production 2,3 million bpd

Brazil's government owned Petrobras totalled in July an average daily gas and oil production, from domestic and overseas sources, equivalent to 2.286.323 oil barrels per day, according to the latest report from the company.

This represents an 11% increase over the same month a year ago and virtually the same as June 2005. Domestic production reached 1.747.214 bpd, which is 14,9% above a year ago.

Oil and gas production overseas, from the eight countries where Petrobras has assets, totalled the equivalent of 261.980 bpd, 1,5% increase over June, because of improved output in Argentina and Venezuela, but 1,9% below a year ago.

Domestic natural gas production reached 44.060 cubic metres per day, 2,2% over July last year. Oil production overseas was 165,803 bpd, 2,2% over June 2005 but 0,7% below June 2004.

Petrobras also announced a new Brazilian deep drilling in angle record in the Santos basin, having reached 6,915 metres which is equivalent to a vertical depth of 6.407 metres. The new well is 200 kilometres offshore to the south of Rio do Janeiro.

The previous record, from 2003, was 6.397 metres vertical in the Espirito Santo basin.

Apparently the drilling discovered promising signs of sweet oil and gas in BM-S-10 block where 50 million US dollars will be invested.

Petrobras pointed out that the success is the result of new technological drilling advances achieved by the company and 3D surveying. Sea depth at the RJS-617-D well is 2.083 metres.

The BM-S-10 block is jointly developed by Petrobras (65%), BG Group (25%) and Partex (10%)