July 21st, 2020
In a challenging context, we presented solid operational performance in 2Q20. The preventive measures against COVID-19 demanded a reduction in the number of shifts in our operations, in which we have been working with 50% of the regular staff.
In view of this new scenario for the oil and gas industry, we decided to mothball 62 platforms that operate in shallow waters, as prices do not cover variable costs.
Despite the sharp drop in demand at the end of March and in April, the average production of oil, NGL and natural gas in 2Q20 was 2.802 MMboed, 6.4% higher than in 2Q19 and only 3.7% below 1Q20. This result was made possible by the company’s quick reaction to the challenges imposed by the global recession caused by the pandemic.
Attached Read Full Report: PBR Production & Sales 2Q20