Brazil’s oil manufacturing jumped by 20.four p.c on the 12 months to set a brand new manufacturing document of three.168 million barrels per day (bpd) in January, due to the prolific pre-salt basin, oil regulator ANP stated on Wednesday.
Final month, Brazil’s complete oil and pure gasoline manufacturing additionally set a brand new manufacturing document, exceeding four million barrels of oil equal per day (boe/d) for the primary time ever, the regulator stated, noting that mixed oil and gasoline manufacturing stood at four.041 million boe/d.
Oil manufacturing in January 2020 rose by 2 p.c in comparison with December 2019 and by 20.43 p.c in comparison with January 2019, ANP stated.
In January 2020, Brazil’s manufacturing within the pre-salt space totaled 2.682 million boed, accounting for 66.37 p.c of all oil and pure gasoline manufacturing. Oil output within the pre-salt space hit 2.150 million bpd final month, the regulator stated. The pre-salt oilfield Lula was the only largest oil producer within the nation, pumping on common 1.052 million bpd.
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Earlier this month, state oil agency Petrobras introduced that it had set one other manufacturing document within the final quarter of 2019, producing greater than three million bpd of oil equal all through the interval.
Brazil’s pre-salt space is predicted to additional enhance the nation’s oil manufacturing this 12 months, in response to OPEC’s newest Month-to-month Oil Market Report (MOMR) in February.
Brazil would be the third-largest progress driver of non-OPEC provide in 2020 after the US and Norway, in response to OPEC. The cartel sees non-OPEC provide rising by 2.25 million bpd, with Brazil’s manufacturing rising by 310,000 bpd this 12 months.
Since June 2019, Brazil’s crude oil manufacturing had surged by 550,000 bpd inside six months, due to the Lula, Buzios, Sapinhoá, Jubarte, and Sul De Lula fields, which boosted manufacturing from the pre-salt horizon within the deepwater Santos Basin to common 1.74 million bpd in 2019, OPEC stated in its report earlier this month.
