Offshore staff
RIO DE JANEIRO–Petrobras reports that, in 2013, oil and natural gas production totaled 2.5 MMboe/d, down 2% on 2012, primarily due to delays in starting up new systems, natural decline of fields, and sale of assets abroad. Domestic output for 4Q 2013 was up 1% on the 3Q 2013 results.
In 2013, five new platforms came onstream and another four systems were deployed at their permanent locations. A presalt daily output record of 371,000 b/d was set on Dec. 24, 2013.
Proven reserves in Brazil reached 16 Bboe, up 1.6% on 2012. The company says that the reserve replacement ratio has been higher than 100% for 22 years in a row.
Petrbras’ 2013 net income was 11% up on 2012 due to diesel (20%) and gasoline (11%) price increases in 2013, increased production of oil products, cost optimization, gains from the sale of assets, lower write-offs for dry wells, and lower foreign exchange impact due to hedge accounting. Adjusted EBITDA totaled almost R$63 billion ($27 billion), up 18% on 2012.
Net income for 4Q 2013 was R$6.281 billion ($2.675 billion), up 85% on 3Q 2013. This result reflects higher oil export volumes, lower dry well write-offs, gains from sale of the interest in block BC-10, and tax benefits stemming from provision of interest on own capital.
Last year’s oil and natural gas production totaled 2.5 MMboe/d, down 2% on 2012, primarily due to delays in starting up new systems, natural decline of fields, and sale of assets abroad. Domestic output in 4Q 2013 was up 1% on 3Q 2013 results.
02/26/2014
