Petrobras offsets reserves dip with new wells

Petrobras’ proven reserves of oil, condensate, and natural gas totaled 12.41 Bboe at the end of last year.

Offshore staff

RIO DE JANEIRO – Petrobras’ proven reserves of oil, condensate, and natural gas totaled 12.41 Bboe at the end of last year.

The estimate, based on ANP/SPE (Brazilian National Agency of Petroleum, Society of Petroleum Engineers) criteria, was 100 MMboe lower than the total as of end-2016.

Petrobras added that it was able to replace 89% of its produced volumes, mainly due to the drilling of new wells and better than forecast behavior from offshore reservoirs in the pre-salt Santos and Campos basins.

1/30/2018

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