Petrobras’ average oil & gas production in Brazil and abroad, in September, topped at 2,276,606 barrels of oil equivalent (boe) per day, 1.2% less than a year ago and 1.9% below the August 2007 mark. As a whole, oil & natural gas production in Brazilian fields in September was 2,035,183 barrels per day, 1.1% below a year ago and 2% under last August. The operating problems that took place on a few of the Campos Basin platforms and caused this small decline have been normalized.

In September, oil production exclusively, in Petrobras’ fields in Brazil and abroad, reached 1,897,604 bpd, slightly below both a year ago (1,6%) and last August (1,8%).

Light oil (44º API) production was kicked-off on October 10 in the Piranema field, off the coast of Sergipe. Initially, the new field will lift some 10,000 barrels per day, a production that is expected to climb to 30,000 bpd in 2008. Also in late 2007, production is scheduled to go online at the P-52 and P-54 platforms – both in the Campos Basin and each capable of producing 180,000 barrels of oil per day –, as well as to at the Cidade de Vitória vessel platform, in the Espírito Santo sea, which will be able to lift up to 100,000 barrels per day.

The volume of oil and natural gas, in barrels of oil equivalent (boe) in the eight countries where Petrobras holds production assets reached 241,423 barrels per day, the same as in the previous month. Natural gas production in Brazilian fields was 42,310,000 cubic meters per day, also matching the month before and September 2006.