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PBR » Topics » Exploration and Production Crude Oil and NGL

This excerpt taken from the PBR 6-K filed Jun 28, 2006.

Exploration and Production

Crude Oil and NGL

Domestic crude oil and NGL production increased 13.5% to 1,751 thousand barrels per day for the first quarter of 2006, as compared to 1,543 thousand barrels per day for the first quarter of 2005. This increase was primarily due to increased production of oil and gas, primarily at the Barracuda and Caratinga fields.

International crude oil and NGL production decreased 6.0% to 158 thousand barrels per day for the first quarter of 2006, as compared to 168 thousand barrels per day for the first quarter of 2005, due to the natural decline in production in some mature fields in Angola and the temporary interruption in production from the main fields in the United States after hurricanes Rita and Katrina.

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