Our oil production grew 5.4% in January

In January, we produced 2,661,843 barrels of oil equivalent per day (boed), 5.4% more than a year ago.

Only figuring-in the fields in Brazil, the average oil and gas production reached 2,422,624 barrels of oil equivalent per day (boed), a 6% increase compared to January last year. As a result of scheduled platform shutdowns during the month, the volume lifted in January was 2.7% below that of the last month of 2010.

The exclusive oil production in domestic fields was 2,069,342 barrels per day, This result reflects a 4.9% increase over January 2010, and was 2.5% lower than production in December 2010, when the company posted a monthly record.

Natural gas production in the Brazilian fields was 56,168,000 cubic meters a day, 13.4% compared to a year ago. Compared to the previous month, production was stable.

The volume of oil and natural gas of Petrobras' fields abroad topped-out at 239,219 boed in January. The result was 0.4% less than the amount produced in December 2010 mainly due to the decrease in gas production in Bolivia due to the scheduled maintenance shutdown at one of the gas treatment plants. Compared with January 2010, there was a 0.9% dip due, mainly, to the decreased gas production in Argentina because of the natural decline of the fields and to operating issues. Natural gas production abroad was 14.997 million cubic meters, 2.9% less than a month earlier and 5.8% below the March 2010 mark.