Petróleo Brasileiro S.A. - Petrobras announced production results for the first quarter of fiscal year 2024. For the quarter, reported average production of oil, NGL and natural gas reaching 2,776 Mboed, 5.4% lower than in 4Q23.
Oil production in the pre-salt was 1,857 Mbpd, 4.1% lower than in 4Q23, mainly due to higher losses from stoppages and maintenance, an effect partially offset by the higher contribution of FPSOs Almirante Barroso and P-71, the ramp-up of the FPSO Sepetiba and the start-up of 2 new wells from complementary projects in the Tupi field in the Santos Basin. Post-salt production was 343 Mbpd, 11.6% lower than in 4Q23, mainly due to higher losses from stoppages and maintenance and the natural decline in production, factors partially offset by the ramp-up of FPSO Anita Garibaldi. Onshore and shallow water production was 35 Mbpd, in line with the previous quarter. International production was 33 Mboed, from fields in Bolivia, Argentina and the United States, in line with 4Q23.