Petrobras revises production target of 6 million barrels

December 6, 2018

Petrobras will no longer pursue the goal of producing 6 million boe / day within five years. BE Petroleo has determined that the oil company intends to reach an average annual production of 3 million boe / day to 3.5 million boe day, in the medium term.

The premise was established in the discussions of the review of the Business Plan 2019-2023, released on Wednesday (5/11), without any mention of the production goal. According to sources, the internal assessment is that producing such a large volume is economically viable, but not of interest to the company.

The new production level of Petrobras determined by the Board of Directors is undoubtedly more feasible to be achieved. The internal proposal was to establish a more real and closer target to those practiced by major oil companies.

Another premise established in the BP 2019-2023 discussions is to strike a balance between the number of chartered units and their own. The new plan forecasts total investments of US $ 84.1 billion, compared to US $ 74.5 billion of the previous version.

With little detailed information and much more conceptual, BP 2019-2023 points to a Petrobras more concerned about the issue of low carbon. That is, more attentive to investments in the area of ​​solar and wind generation.

Source: BE Petroleum

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