Petrobras forecasts 23pc production increase next year

摘要

Brazil's state-controlled oil company Petrobras expects to see a 23pc rise in crude production by the end of 2012 as it brings more rigs on stream, chief financial officer Almir Barbassa says. The increase in output is already under way, with an additional 213,000 b/d emerging in the fourth quarter. The company brought four additional wells with total production capacity of 38,000 b/d on stream in October, Barbassa says. And Petrobras expects 16 new wells with a total production capacity of 175,000 b/d to begin operating in November-December.