Brazil’s oil and natural gas production hit a record high of 4.344 million boe/d in 2023, up 11.69% from 2022.
This milestone marked the first time daily production exceeded four million barrels, the National Agency of Petroleum (ANP) reported.
The report highlighted significant gains in both the oil and natural gas sectors. Oil output reached 3.402 million barrels per day (bbl/d), up 12.57% from the previous year.
Meanwhile, natural gas production hit 150 million cubic meters per day (m³/d), showing an 8.7% increase.
Particularly noteworthy was the production in the pre-salt region, Brazil’s deep-water area rich in hydrocarbons.
Here, output in 2023 was the highest ever at 3.304 million boe/d, making up 75.18% of national production.
In December alone, Brazil produced 4.570 million boe/d of oil and gas.
Oil production slightly dipped to 3.585 million bbl/d from November, yet it was 16.6% higher year-on-year.
Natural gas output also saw a slight month-to-month decrease but was 11.8% higher than the previous December.
December’s pre-salt production stood at 2.742 million bbl/d of oil and 118.34 million m³/d of natural gas, totaling 3.487 million boe/d.
This represented a slight decrease from November but a substantial year-on-year increase. Pre-salt accounted for 76.3% of Brazil’s total December production.
Marine fields were the source of 97.7% of the oil and gas produced in December, across 6,546 wells.
Petrobras, the state-owned company, played a significant role, producing 88% of the oil and gas.
This record-breaking production underscores Brazil’s growing importance in the global energy market.
It highlights the country’s vast hydrocarbon reserves, especially in the pre-salt region, and the potential for further growth in the sector.
The achievement reflects the successful exploration strategies and the technological advancements that have enabled the exploitation of deep-water resources.