Petrobras’ record production
Brazil’s state-owned oil firm has reached a record level of production, it has been reported.
Petrobras has announced it broke its monthly domestic production record in August, according to the International Herald Tribune.
Those considering buying property in Brazil could be interested to hear the news, which hints at economy buoyancy in the nation.
A company statement cited by the publication revealed it produced 1,885,196 barrels per day last month domestically, which is 4.3 per cent more than the same period in 2007 and one per cent up from the previous month’s figure.
Total production in the company’s fields worldwide reached the equivalent of 2,442,444 barrels.
Meanwhile, Reuters reports the firm has forecast it will produce a further 1.126 million barrels per day from its new pre-salt fields by 2017.
According to the report, Petrobras has invested $1 billion over the course of the past three years (£500 million) drilling 20 wells off the Brazilian coast.
