Thursday, October 16, 2014

Petrobras production reached record highs in September



Petrobras reports that consolidated production of oil and gas in Brazil and abroad,  stood at 2 million 781 thousand barrels of oil equivalent per day (boe) in September. This volume was 0.8% higher than in August, which was 2 million 759 thousand boe.

Oil production in Brazil grew 0.6% compared to August

Oil production from Petrobras in Brazil in September reached the average of 2 million 118 thousand barrels / day (bpd). This volume was 0.6% higher than that produced in August, which was 2 million 105 thousand bpd.

The total oil production operated by Petrobras in Brazil, including operated by the Company to its partners hand in September achieved its third consecutive record, 2 million 239 thousand bpd - 0.3% volume exceeding 2 million 232,000 bpd that had been made in August.

Total oil and gas
 
The total production of oil and gas in Brazil Petrobras was 2 million 565 thousand boe, indicating an increase of 0.5% compared to August (2 million 551 thousand boe) and also a new record . Total production of oil and natural gas operated by Petrobras in Brazil, including the operated area for its members, in turn, was 2 million 743 thousand boe in September, 0.3% above the volume obtained in August (2 million 736 thousand boe). This is also the highest total operated production already achieved by the Company.

Growth of output

The growth in production was mainly due to ramp up production of the P-55 and P-62 platforms Roncador (Campos Basin) and the FPSO Cidade de Paraty in Lula Nordeste (Santos Basin) .

During the month of September, six new offshore wells began operation in Santos and Campos basins, five producers and one injector comprising wells.With them, it's a total of 53 new wells that commenced operations during the year 2014.

With the arrival of the three boats PLSV type (Pipe Laying Support Vessel) Sapura Topazio, Coral Atlantico and NO 102, in the month of September, the Company's fleet was 18 ships, 19 of the total estimated to operate until the end of this year.

The production of pre-salt layer had in September the volume of 532,000 bpd, and September 18 was recorded higher production in pre-salt of the Santos and Campos, 618 bpd, constituting a new daily production record in this layer. These flows also include operated by Petrobras for its partners part. Worth noting that, after the entry into production of the well RJS-674, September 10, the FPSO Cidade de Paraty reached its maximum production capacity of 120,000 bpd, with only four producing wells, as had happened with the FPSO Cidade de São Paulo, in the field of Sapinhoá (Santos Basin).

Stops Production and Operational Efficiency

You meeting planned by the company were carried out maintenance stops on some platforms. In September there was a temporary interruption of 44,000 bpd on average production for the month. Program and Increased Operational Efficiency (Proef), launched in 2012, continues to show excellent results: the month of September, for example, Unit Operation Campos Basin reached its highest efficiency during the past 50 months, from 82.9%, and increased production of the last 20 months, 420,000 bpd.

New platforms in 2014

New production systems will be in operation until the end of this year to ensure the sustained growth of the yield curve provided in the Business Plan and Management of Petrobras from 2014 to 2018.

The FPSO Cidade de Mangaratiba started production Tuesday (14/10) in South Iracema area, located in the Lula field in the pre-salt Santos Basin. Also this quarter will begin operating the FPSO Cidade de Ilhabela, which is already in the process of anchoring in northern Sapinhoá field area, and the P-61 platform in the Papa-Terra field (in the post-salt Campos Basin), which is already anchored on location, with the assembly of the probe support unit type asisted Tender Drilling (TAD) in progress.

Production of natural gas

Production of natural gas in Brazil in September was also the highest recorded since, reaching 71 million 137 thousand m³ / d exceeding production last month, which was 71 million 22 thousand m³ / d by 0.2%. Gas production operated by Petrobras, which includes the land operated for associated companies amounted to 80 million 132 thousand m³ / d.

September production abroad is 3.2% higher than in the previous month

Outside were produced in September, 215,600 barrels of oil equivalent per day (boe), representing an increase of 3.2% compared to 208,900 boe produced during the previous month.

The average natural gas production abroad was 16 million 293 thousand m³ / d, 3.1% greater than the volume produced in the month of August, which was 15 million 807 thousand m³ / d. This increase is due to increased production in Block 57, Golf Kinteroni in Peru, motivated by the increased demand for LNG export from that country.

The average production of crude oil in September, from 119,700 barrels of oil per day (bpd), was 3.3% above the 115,900 bpd produced in the previous month based mainly on increased production NGL and condensate in Block 57 Field Kinteroni in Peru and greater operational efficiency in assets in Nigeria and Argentina.

Production informed the ANP

Total production was reported to the ANP 10,207,003 m³ of oil and 2,524,741 thousand cubic meters of gas in September 2014 This output represents the total production of the concessions in which Petrobras is the operator. Not included volumes of shale, LNG and production partners where Petrobras is operator.

Sunday, August 31, 2014

Saudi Aramco cuts September propane to $745/T, down $35 from the August Level

State-run Saudi Aramco has cut its September contract price for propane to $745 a tonne, down $35 from the July level, an industry source said on Thursday. Butane prices for September 2014 were also cut to $785 a tonne, down $15 from July level of $800. The prices provide a benchmark against which Middle East sales of liquefied petroleum gas (LPG) to Asia are priced. Following is a table of Saudi Aramco's contract prices of propane and butane per tonne in U.S. dollars. 

Product   September 2014  -   
August 2014     Change 
Propane   $745                      $780                  -35
Butane     $785                      $800                  -15


Related:


Saudi Arabia February CP Price

Japan Energy Report
Saudi Arabia Energy Report
India Energy Report
Russia Energy Report

Thursday, July 31, 2014

Saudi Aramco cuts August propane to $780/T, down $40 from the July Level

State-run Saudi Aramco has cut its August contract price for propane to $780 a tonne, down $40 from the July level, an industry source said on Thursday. Butane prices for August 2014 were also cut to $800 a tonne, down $40 from July level of $840. The prices provide a benchmark against which Middle East sales of liquefied petroleum gas (LPG) to Asia are priced. Following is a table of Saudi Aramco's contract prices of propane and butane per tonne in U.S. dollars. 

Product   August 2014  -   July 2014     Change 

Propane  $780                  $820               -40
Butane     $800                 $840               -40


Related:


Saudi Arabia February CP Price

The key energy commodity price trends of U.S. in 2013
Japan Energy Report
Saudi Arabia Energy Report
India Energy Report