Brazil May Crude Oil Output Up 1.3% At 2.05 Million Barrels/Day -ANP
07/05/2012| 03:42pm US/Eastern
SAO PAULO--Crude oil output in Brazil increased slightly in May, as progress in offshore presalt oil fields accelerated, according to data released Thursday by Brazil's National Petroleum Agency, or ANP.
Brazil produced an average of 2.05 million barrels of crude a day in May, up 1.3% from April production, the ANP said.
Natural gas output also increased month-on-month in May, the ANP said. Brazil produced 68 million cubic meters a day during the month, up 4.7% from April.
Production in the presalt reserves increased 4.8%, averaging 171,300 barrels of oil equivalent, or BOE, a day.
State oil company Petroleo Brasileiro S/A (PBR, PETR4.BR), or Petrobras, accounted for 94.4% of oil and natural gas production.
Only two of the 20 best-producing fields were operated by foreign companies, with Norway's Statoil ASA (STO, STL.OS) and Royal Dutch Shell PLC (RDSA, RDSA.LN) controlling one well each.
The agency said 91.1% of oil and 75.4% of natural gas were produced in offshore wells.
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