Offshore staff

RIO DE JANEIRO – Petrobras anticipates growing its oil production in Brazil next year by 10% and 7% globally, due to start-up of five new production systems this year and three more in 2019.

During 2019-23, it expects to start up 13 new systems, with its oil and natural gas production in this period rising on average by 5% per year.

Cost efficiency measures and presalt lifting costs of less than $7/boe should drive the company’s average lifting cost to less than $10/boe from 2020 onwards.

Further divestments are likely as the company continues to pursue activeportfolio management, and these could realize $26.9 billion in sales over the five-year period.

12/10/2018