Rio - The director of Exploration and Production at Petrobras - Petróleo Brasileiro SA, Guilherme Estrella, reports that the company expects to have its best second half ever with average daily production at 1.57 million barrels and a peak of over 1.7 million barrels daily. "That will be a record high in Petrobras history," says Estrella, pointing out that the present record is 1.64 million barrels daily which was reached at the end of 2003.

Estrella explains that with the entrance of new drilling platforms, the P-43 and P-34 before the end of this year, and the P-48 and P-50 in 2005, production will rise by some 400,000 barrels daily and Brazil should be self-sufficient in petroleum by the end of 2005.

As for natural gas, although Brazil continues to import it from Bolivia, the fact is that Petrobras production continues to rise, says Estrella.

Agência Brasil
Reporter: Cristina Indio do Brasil
Translator: Allen Bennett
09/27/2004