Petrobras ( NYSE: PBR ) reported Wednesday its total oil and gas production for FY 2022 was 2.68M boe/day, edging past its full-year target of 2.6M boe/day.
The company said commercial production reached 2.36M boe/day, above the 2.3M target, and oil production for the year was 2.15M bbl/day, compared to the 2.1M target.
Petrobras ( PBR ) reported the P-68 platform at the Berbigão and Sururu fields, and the Carioca FPSO at the Sépia field reached maximum oil production capacity in 2022, with the latter hitting a new monthly production record for a presalt platform with 174K bbl/day in November; a record for monthly oil production in a single well also occurred in November, as ATP06 on platform P-70 hit 56.5K bbl/day.
Separately, Italian steel pipe maker Tenaris ( NYSE: TS ) said Wednesday it signed a three-year deal to supply tubing with corrosion resistant alloys to Petrobras ( PBR ) for work offshore Brazil.
Petrobras ( PBR ) continues to trade at a substantial discount as a result of the risks faced by the Brazilian government, The Value Portfolio writes in an analysis posted recently on Seeking Alpha .
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Petrobras tops full-year output target, signs pipe deal with Tenaris