Brazil’s oil and natural gas production increased to its highest-ever level of 3.21mb/d in June, a rise of 7.1% compared to a year earlier, ET Energy World reported. The previous record in the country’s oil production in August 2015 surpassed 2.5mb/d, stated Argus.
Brazil’s state-controlled oil company Petroleo Brasileiro SA topped energy producers with 82% of country’s oil and gas output. Shell-owned BG was the second largest net producer with almost 246,000boe/d, marking a rise from 218,000boe/d in May. Spanish-Chinese joint venture Repsol-Sinopec followed BG with over 73,000boe/d, up from more than 72,000boe/d in May.
Despite 94% of June’s oil and gas output having come from offshore fields, the vast majority of the Brazilian concessions were onshore, according to Kallanish Energy.
Previously, Brazil’s hydrocarbon production slumped in H1 of the year due to maintenance at offshore platforms operated by state-controlled Petrobras.