Petrobras Oil and Natural Gas Production in July

Petrobras announces that its July oil output (oil plus natural gas liquids - NGL) from all the company's fields in Brazil was 1,888 thousand barrels per day (bpd), 4.6% lower than the previous month (1,979 thousand barrels). Including the share operated by Petrobras for its partners, oil production in Brazil was 1,946 thousand bpd, down 4.7% on June.

The decrease in July was due to scheduled maintenance shutdowns on Campos Basin platforms (P-40, located in Marlim Sul field, P-20 in Marlim, PPM-1 in Pampo and FPSO-RJ in Espadarte), in addition to the completion of an extended well test in Sapinhoá Norte field, in the Santos Basin pre-salt, operated by the itinerant production unit FPSO Cidade de São Vicente. In September, a new extended well test will be carried out in the Lula Extremo Sul area.

In July, Petrobras' total output (oil and natural gas) in Brazil averaged 2,282 thousand barrels of oil equivalent per day (boed), 4.9% lower than June. Including the share operated by Petrobras for partners, total output was 2,386 thousand boed, down 4.1% on the previous month.

Including the company's output abroad, total oil and natural gas production in July averaged 2,490 thousand boed, 4.9% lower than June.

Platform P-63, the first production unit of the Campos Basin Papa Terra project, has completed adaptation work for the new submarine layout rigorously on schedule and is already on its final location. It is being connected to anchorage lines and the first oil is expected on October 23rd.

Moreover, the installation of the riser support buoy (RSB), that will connect the Sapinhoá wells to FPSO Cidade de São Paulo, is under way. Subsequently, the company will start the installation of the RSB in the Lula Nordeste field connected to the FPSO Cidade de Paraty.

These operations, together with the new systems that will come on stream in the second half of the year (P-55, P-58 and P-61) will contribute to Petrobras' continuous and sustainable production growth.

Natural Gas Production

In July, non-liquefied natural gas output from the company's fields in Brazil was 62,717 thousand cubic meters per day and total gas output, including the share operated by the company for its partners, was 69,858 thousand m³ per day, remaining within the same levels as June.

A new monthly record for natural gas utilization was achieved in July with 94% of the gas from the produced oil.

International Production

In July, total oil and natural gas production abroad was 208,598 boed, down 11.2% on June. From this total, natural gas output reached 15,618 thousand cubic meters per day, 1.3% higher than June. However, oil output was 116,675 barrels per day, down 19% on the previous month.

The increase in natural gas production was due to the new well drilling in El Mangrullo field, in Argentina. Oil output decreased by 50% in Nigeria and Angola as a result of the new joint venture Oil & Gas B.V. (PO&G), where Petrobras holds a 50% stake.

Information to the Brazilian National Agency for Oil, Natural Gas and Biofuels (ANP)

In July 2013, the total output reported to ANP was 9,048,361.25 m³ of oil and 2,278,013.82 thousand cubic meters of gas. This output corresponds to the total output from concessions where Petrobras is the operator. It excludes Shale, NGL volumes and partners' output where Petrobras is not the operator.
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