Petrobras' total oil and natural gas production in Brazil averaged 2.441 million barrels of oil equivalent per day (boed) in December 2012, up 3.4% on November 2012. With foreign production included, Petrobras produced an average of 2.683 million boed, up 4.2% on November.

With exclusive oil and NGL production in Brazil, Petrobras' production amounted to 2.032 million barrels per day (bpd) in December, representing a 3.2% increase compared to November. Total Petrobras operated production was 2.056 million bpd.

This was mainly due to an increase in production on the FPSO Cidade de Anchieta, in the Baleia Azul field, which produced 77,700 bpd in December. Another factor that contributed to the rise in production was improved operational efficiency in the Campos Basin, reflecting the positive effects of the PROEF (Operational Efficiency Improvement Program).

Petrobras' non-liquefied natural gas production in Brazil reached 64.959 million cubic meters per day, up 4.5% on November 2012. Total Petrobras operated production was 71.040 million cubic meters per day.

The boost in gas production reflects increased production in the Mexilhão, Lula and Tambaú fields and the start of the FPSO Cidade de Anchieta operations, in the Baleia Azul field.

Total foreign production was 243,000 boed, up 12% on the previous month. Of this, 145,000 barrels of oil per day was produced, which represents a 21.8% increase on the previous month due to wells in the Akpo field being reopened after a maintenance shutdown of the production platform in Nigeria.

International natural gas production amounted to 16.535 million cubic meters/day, up 0.9% on November, due to better than expected results at the Santa Cruz I Oeste and Neuquina fields, the end of a strike in Argentina and a higher demand for Bolivian gas.

2012 Production

Petrobras' oil production in Brazil in 2012 averaged 1.980 million bpd, reaching the target for the year set in the 2012-2016 PNG (Business Plan), which was of 2.022 million bpd, plus or minus 2%. This result was due to closing down the Frade field, due to seepage, a higher than estimated number of scheduled shutdowns and operational problems leading to higher than expected interruptions. Total Petrobras operated production was 1.995 million bpd.

Petrobras' non-liquefied natural gas production in Brazil was 59.644 million cubic meters per day. The total Petrobras production was 65.793 million cubic meters per day. This production mainly reflects the increase in production in the Lula field, in the interconnection of wells in Mexilhão (PMXL-1) and the start of production in the Tambaú field (FPSO Cidade de Santos).

Petrobras' total oil and natural gas production in Brazil in 2012 was 2.355 million boed, down 0.9% on 2011 volumes produced. With foreign production included, Petrobras' production averaged 2.598 million boed, down 0.8% on 2011.

Total foreign production was 243,000 bpd. Of this, 146,000 bpd of oil and 16.504 million cubic meters of natural gas were produced.

In 2013, we highlight the following systems starting production: FPSO Cidade de São Paulo which started production in the Sapinhoá Pilot in January and other systems that will also increase production mostly in the second half of the year; the FPSO Cidade de Itajaí (in the Baúna-Piracaba fields); the FPSO Cidade de Paraty (in the Lula field); P-61 and P-63 (in the Papa – Terra field) and P-55 (in Roncador).