Brazil breaks new oil and gas output record

Brazil broke a new oil and gas output record in October, with a total of 4.18Mboe/d (million barrels of oil equivalent per day), according to watchdog ANP. 

The amount is 3.2% higher than the previous record, set in September – when Brazil produced 4.05Mboe/d – and 16% up from a year earlier. 

The volume included 3.2Mb/d of oil, surpassing the previous record in January 2020 of 3.17Mb/d, and 149Mm3/d of natural gas, up from 143Mm3/d in September. 

Production in the pre-salt increased 4.75% compared to September to 3.14Mboe/d, representing 75.2% of the total.

Output from production-sharing contracts rose 18% to 995,200boe/d, accounting for 23.8% of the total.

The increase was driven by production from the P-77, in the Búzios field, and the Guanabara and Pioneiro de Libra FPSOs, in Mero. 

The two fields are operated by federal company Petrobras, which produced 2.7Mboe/d in October or 65% of the total. 

The state-run firm plans to put a new FPSO into operation next month, the P-71, in the Itapu field.