Petrobras' (PBR) Buzios Field Achieves Production Milestone [Yahoo! Finance]
Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A)
US:NYSE Investor Relations:
investidorpetrobras.com.br/en
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Source: Yahoo! Finance
PBR, the Brazilian state-run oil company, operates the Búzios field, together with Pré-Sal Petróleo (PPSA), CNOOC and CNODC. In June 2023, the Búzios field recorded a production of 1 billion barrels of oil equivalent, which encompasses not only oil in barrels but also natural gas production converted to barrels of oil equivalent (boe). The Búzios field is the largest ultra-deepwater field. The production milestone was achieved through the five operating units, the FPSOs P-74, P-75, P-76, P-77 and Almirante Barroso. With new production systems, PBR expects this figure to grow even further. The company plans to install new production systems in the next few years to ramp up the field's capacity to reach around 2 million barrels of oil per day by 2030. The Búzios oil field commenced operations in 2018 and has delivered positive results since then, boasting the most productive wells in the country. Petrobras highlights that the reservoir's thickness is nearly the same height as Suga
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