Brazil’s Petrobras sets annual production record in the pre-salt in 2021

RIO DE JANEIRO, BRAZIL – Petrobras (PETR3;PETR4) set a new annual production record in the pre-salt in 2021, reaching 1.95 million boed. This output represents 70% of the company’s total production last year, which amounted to 2.77 million boed.

The previous record was set in 2020, when 1.86 million boed was reached, representing 66% of Petrobras’ total production.

The state-owned company said that production in the pre-salt has been rapidly growing, and the record set in 2021 represents more than double the volume it produced in the region 5 years ago.

“With the maintenance of the focus of its activities in deepwater and ultra-deepwater assets, Petrobras will continue to invest in accelerating the development of the highly productive pre-salt fields, more resilient to low oil prices and more carbon efficient,” the company said in a statement.

In its 2022-26 Strategic Plan, the company foresees investments of US$57 billion in the Exploration and Production (E&P) segment, 67% of which in the pre-salt, which will be assigned 12 of the 15 new platforms scheduled to start operating in this period and should account for 79% of the company’s total output in 2026.

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