Brazil’s Petrobras hits 2024 output targets, boosts pre-salt production

Brazil’s national oil company (NOC) Petrobras met its 2024 production targets, with total oil and gas output reaching 2.7mn barrels of oil equivalent per day (boepd), the company said.

Commercial production stood at 2.4mn boed, while oil production reached 2.2mn barrels per day (bpd), within the firm's strategic plan range of plus or minus 4%.

The oil producer set new annual records in pre-salt operations, with own production of 2.2mn boepd and operated production of 3.2mn boed.

Pre-salt fields now account for 81% of the company's total output.

Petrobras launched two platforms ahead of schedule. The floating production storage and offloading (FPSO) vessel Maria Quiteria began operations in the Campos Basin's Jubarte field, whilst the FPSO Marechal Duque de Caxias started production in the Santos Basin's Mero field.

The firm said its FPSO Sepetiba platform in Mero reached maximum oil production capacity after eight months.

These new operations helped offset losses from maintenance work, mature field decline, unplanned stoppages ordered by oil regulator ANP, and disruption from a strike by workers at an environmental agency.

In November, Petrobras began commercial operations at its Boaventura Energy Complex gas processing unit in Itaborai, in Rio de Janeiro, with initial capacity of 10.5mon cubic metres per day (cmd).