SAO PAULO, Sept 30 Production of oil and natural
gas at Brazil's state-run oil company Petroleo Brasileiro SA
fell 1.8 percent in August compared with a year
earlier even though some platforms re-opened after maintenance
work, the company said on Monday.
Petrobras, as the firm is known, produced an average 2.499
million barrels of oil and natural gas equivalent per day
(boepd) in Brazil and abroad during the month, compared with
2.544 million boepd a year earlier, the Rio de Janeiro-based
company said in a statement.
But August output was 0.4 percent higher than the 2.49
million boepd produced in July as three platforms that had been
closed for maintenance reopened and wells on two other platforms
Despite the discovery of giant new offshore oil reserves
since 2007 and a $237 billion five-year investment plan - the
world's largest corporate spending program - production at
Petrobras has been stagnant or declining since January 2012,
when output reached 2.73 million boepd.
Emergency and scheduled maintenance, combined with lower
output from older fields and delays in bringing new areas on
line, have been the main reasons for falling output.
Petrobras produces about 90 percent of Brazil's oil and