On March 04th, 2014, production at Cascade and Chinook fields hit 40,000 barrels per day (bpd), a new output record for these oilfields. Cascade has 3 wells in operation and Chinook 2 wells.
Our Board of Directors has approved the 2030 Strategic Plan (2030 SP) and the 2014–2018 Business and Management Plan (2014-2018 BMP).
Our net income was 11% up on 2012 due to diesel (20%) and gasoline (11%) price increases in 2013, increased production of oil products, cost optimization, gains from the sale of assets, lower write-offs for dry wells and lower foreign exchange impact due to hedge accounting. Adjusted EBITDA totaled R$ 62.967 billion, up 18% on 2012.
Under the new contract with Williams, the technical collaboration will continue and the two parties will work together with Mercedes to develop new motor vehicle fuels and lubricants for use by the team from the 2015 season.