February 27, 2012
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Petrobras' Oil Output In Brazil Set An Annual Record In 2011

Petrobras' average oil and natural gas output in Brazil reached a record volume of 2,376,359 barrels of oil equivalent per day (boepd) in 2011, 1.6% up on the 2010 output. Oil production alone also set an annual record with a daily average of 2,021,779 barrels, exceeding the 2010 production by 17,607 barrels. Last year, the Company produced 56,374,000 cubic meters of natural gas per day (not including liquefied gas) in Brazil, 6.2% up on the 2010 figure.

Including the volume from the fields in countries where Petrobras has operations, in 2011 the Company's total daily average rose to 2,621,209 boed, 1.4% up on the 2010 production.

Abroad, natural gas output averaged 16,538,000 cubic meters per day in 2011, up 3.3% on the 2010 production. Meanwhile, the average oil output in 2011 was 147,511 barrels per day, 2.5% below the 2010 figure. Total output in barrels of oil equivalent overseas reached 244,850 boe/day, 0.2% less than in 2010.

December output in Brazil

Petrobras registered the following daily output averages in Brazil in December 2011:

- Oil: 2,084,262 barrels/day, up 1.1% on the previous month.
- Natural gas (not including liquefied gas): 60,664,000 cubic meters, up 5.3% on November.
- Oil and gas: 2,465,828 barrels of oil equivalent, 1.7% higher than the 2,423,118 barrels from November.

Oil output rose in December due to new wells coming on stream at platforms P-57 (Jubarte) and P-56 (Marlim Sul), both in the Campos Basin, and to increased production rates at FPSO Angra dos Reis, in the the Lula field, Santos Basin pre-salt cluster.

International output in December

In December 2011, Petrobras recorded the following daily production averages abroad:

- Oil: 152,849 barrels per day, steady compared to November.
- Natural gas: 16,503,000 cubic meters, 4.0% below the mark set in the previous month.
- Oil and gas: 249,981 barrels of oil equivalent per day (boepd), a slight 1.6% dip compared with November 2011.

The lower gas output and overall volume (oil and gas) derived from the decreased demand in the Bolivian consumer market.

The schedule shows oil and gas production in 2011, per Brazilian state and abroad, and the overall volume the Company produced in 2011.

Copyright 2011, Petrobras. All rights reserved.


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