Brazilian state-owned oil giant Petrobras has set a new record for annual output in 2020, media reports said. The oil company pumped an average of 2.28 million bpd in 2020. It broke its previous record of an average of 2.23 million bpd, which was set in 2015.
According to Petrobras, it was greatly helped by the performance at the Buzios Field and improved corrosion-treatment efforts at its subsalt fields. It said that, “The records demonstrate good operational performance despite the challenging scenario of 2020, with greater focus on world-class assets in deep and ultra-deep waters where Petrobras has displayed a large competitive advantage.”
The company further revealed that total oil and natural gas output also reached a record 2.84 million bpd of oil equivalent, which topped the previous record of 2.79 million bpd also set in 2015.
It was reported last month that Brazil-based independent oil and gas company 3R Petroleum Oleo e Gas is set to acquire an onshore oilfield from state-owned oil behemoth Petrobras. Petrobras earlier announced that it had received offers from 3R Petroleum Oleo e Gas and Eneva for its Urucu oil and gas cluster in the interior state of Amazonas. Oil production at the fields was 2,145 barrels per day (bpd) in November.
Earlier, it was reported that Petrobras is in talks with a global consortium to sell its natural gas fields. The consortium consists of Brazil’s 3R Petroleum and Norway-linked DBO Energy among others. The Peroa cluster would be among the first offshore all-gas fields sold by Petrobras. It is located off the coast of Espirito Santo state.