The production of the Brazilian Petrobras fell in 2021 and will fall again in 2022

Rio de Janeiro, Jan 14 (EFE) .- The Brazilian oil company Petrobras reported this Friday that its average production in 2021 was 2.77 million barrels of oil and gas equivalent per day, with a reduction of 2.5% compared to the record production of 2020, and that its forecast is that it will fall again in 2022. The largest company in Brazil reported in a statement to the market that, despite this drop, last year’s production was within the goal it had established for 2021, which was to reach an average production of 2.72 million barrels per day with a fluctuation margin of 4% (between 2.61 and 2.83 million barrels per day). In the same statement, the state oil company reported that, due to a lower participation in some fields it exploits, it reduced its production goal for 2022, from the 2.7 million barrels per day initially planned to 2.6 million barrels per day in the new projection. This means that Petrobras’ production will return in 2022 to the same levels as in 2018 (2.63 million barrels per day). Production rose 5.4% between 2018 and 2019, to 2.77 million barrels per day, and 2.5% in 2020, to 2.84 million barrels per day, surpassing the previous record for the company, which was from 2015 (2.79 million barrels per day). But in 2021 it fell by 2.5%, to 2.77 million barrels per day, the same level as in 2019, and in 2022 it should fall by 6.1%, to 2.6 million barrels per day. The reduction in production between 2020 and 2021 was attributed to the inclusion of some important deposits in the company’s divestment plan. Despite this, the oil company exceeded its goal for last year thanks to the entry into production of a new platform in the Sepia field, which has a gigantic reserve in the pre-salt, the exploitation horizon in deep waters of the Atlantic Ocean that can turn Brazil into one of the world’s largest hydrocarbon exporters. Petrobras had to reduce its production goal in 2022 due to the fact that as of May it will have a smaller participation in both the Sepia and Atapu deposits, both in the pre-salt and which were exploited individually thanks to the fact that the State granted them the rights on them in a process of capitalization of the company in which it did not contribute resources. Starting in May, the company explained, Petrobras’ stake in Atapu will fall to 65.69% and the state-owned company will share those wealth with the multinationals Shell (16.66%), Total (15.0%) and Petrogal (1. 7%), winners of an auction promoted last year by the National Petroleum Agency (ANP). The participation of the Brazilian state company in Sepia will fall from May to 55.3% with the entry into the operating consortium of Total (16.91%), Petronas (12.69%), QP (12.69%) and Petrogal (1.7%).

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