MercoPress. South Atlantic News Agency

Petrobras daily production reached 2.3 million bpd

Brazil's government owned Petrobras averaged during October oil and gas production of 2.343.451 barrels which is 4.7% above the same month a year ago and 1.6% up from September 2006.

Domestic oil and gas production reached the equivalent of 2.103.198 bpd which is 4.5% up from a year ago and 2.2% above last September's 2.058.431 bpd.

During October oil production in Brazil was 1.821.261 bpd, up 5.8% over last October and 1.8% over September 2006. Increased oil production resulted mainly from three new wells at the P-50 platform in the Albacora Leste field, Campos Basin.

Petrobras oil and gas overseas production in barrel equivalents reached last October 240.253 bpd, which is 2.7% below the September volume and down 0.8% from the same month in 2005. Petrobras has overseas operations in eight countries.

Natural gas production in domestic fields was 44,824 m³ a day, which represents a 4.4% increase over September 2006 and 3.5% more than a year ago.

Brazil's oil consumption was in the range of 1.85 million bpd at the beginning of 2006 which means the country technically is self sufficient. Towards the end of 2006, domestic consumption was estimated in the range of two million bpd.