OTC: Petrobras presalt output to reach 2 million bo/d by 2020

05/13/2013
Brazil's Petroleo Brasileiro SA (Petrobras) plans to increase net production from its offshore presalt formation in the Campos and Santos basins to more than 2 million bo/d by 2020, from 311,000 b/d of oil as of Apr. 17, according to Carlos Tadeu de Costa Fraga, the company's presalt executive manager. Fraga spoke May 7 to attendees of the Offshore Technology Conference in Houston. The company estimates 1 million b/d of presalt oil production by 2017. Petrobras' presalt production currently makes up 7% of its total output. This will increase to 42% in 2017 and 50% by 2020, according to Petrobras projections. To reach these production levels, Petrobras will add 24 production units (floatin...
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