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February 10, 2022
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Petrobras beats all production targets for the year 2021

Petrobras beats all production targets for the year 2021

Petrobras announced today (9) that it has beaten all production targets set for 2021, setting several records, including the result obtained in its own pre-salt production, with an annual average of 1.95 million tons. barrels of oil equivalent, representing 70% of the company’s total production. Petrobras beats all production targets for the year 2021

“Our production in the pre-salt has been growing rapidly and the record recorded represents more than double the volume we produced in this layer five years ago,” said Production Development director João Henrique Rittershaussen.

On August 23 of last year, production began on the FPSO Carioca, the first platform in the Sépia Field, in the pre-salt layer of the Santos Basin. During the year, three new production wells were interconnected and, currently, the production operated is over 130 thousand barrels of oil per day.

The company recorded on July 18, 2021 the leverage of the P-70, in Campo de Atapu, in less than 13 months. With that, the platform reached, with four producing wells, the operated production of 161 thousand barrels of oil per day, exceeding the nominal capacity of the project.

The annual record for gas use was also broken, with the mark of 97.2% of the gas produced. According to Petrobras, this record contributes significantly to the reduction of emissions and greater carbon efficiency.

Búzios

Last September 1, the Búzios Field co-participation agreement was signed and entered into force, which regulates the coexistence of the Assignment of Rights Agreement and the Agreement for the Production Sharing of Surplus of the Assignment of Rights for the field. Petrobras now holds 90% of the exploration and production rights for the excess volumes, excluding the portion of Pre-Salt Oil (PPSA), and 92.666% of the volumes of the shared deposit. Created in 2013 and linked to the Ministry of Mines and Energy, Pré-Sal Petróleo operates on three fronts: management of production sharing contracts, management of the commercialization of oil and natural gas and representation of the Union in unitization or individualization agreements.

On December 17, 2021, Petrobras acquired the exploration and production rights for volumes in excess of the Transfer of Rights in the Atapu and Sépia fields and exercised its right to act as operator, with a 30% interest in the winning consortium of Sépia. For Atapu, the consortium will be integrated by Petrobras as operator, with a 52.5% stake.

With the entry into force of the Production Sharing Regime in Atapu and Sépia, scheduled for May 2022, Petrobras’ interests in the shared deposits, including the installments of the Assignment Agreement and the Concession Agreements, and excluding the portion of PPSA , will be respectively around 65.69% for Atapu and 55.30% for Sepia.

Commitment

For the company’s Exploration and Production director, Fernando Assumpção Borges, “the achievement of these results demonstrates Petrobras’ commitment to meeting its goals and the focus on assets in deep and ultra-deep waters, which have shown great competitive differential, producing oil of low extraction cost and high quality, with low greenhouse gas emissions”.

Petrobras also highlighted, in 2021, the growth of 8.5% in the volume of sales of oil products in relation to 2020, with an emphasis on the increase in the sale of gasoline, diesel and kerosene for aviation, mainly due to the strong impact on sales caused by the new coronavirus pandemic in 2020, in addition to the lower import of gasoline and diesel by third parties between the periods, resulting in an increase in the company’s market share.

Another derivative that contributed to the increase in total sales volume was fuel oil, whose sales evolved in 2021 compared to the previous year, due to the greater demand for use in thermal plants.

Petrobras also broke the annual sales and production record for S-10 diesel in 2021, which guarantees better environmental and economic results for users. The increase in S-10 diesel sales reached 34.7%, with a 10% expansion in production.

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