Brazil’s oil production hits record high

February 3rd, 2012 - 2:02 pm ICT by IANS  

Rio de Janeiro, Feb 3 (IANS) Brazil’s oil and natural gas production was a record high in 2011, authorities said Thursday.

According to National Petroleum Agency, Brazil’s oil production totalled 768 million barrels last year, up 2.5 percent from 2010, while natural gas production reached 24 billion barrels of oil equivalent (BOE), up 4.9 percent from 2010, reported Xinhua.

In December, oil production reached 2.214 million barrels per day, and natural gas production reached 2.663 million BOE per day, both record-high figures.

From 2002 to 2011, Brazil’s oil production increased 45 percent, while natural gas production rose 55 percent.

A total of 91.2 percent of Brazil’s natural gas and oil production came from fields operated by the country’s state-controlled oil giant Petrobras.

The Campos Basin, off Brazil’s southeastern coast, was responsible for 83.4 percent of the oil production and 38 percent of the natural gas production last year.

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