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UPDATE 1-Brazil's Petrobras trims 2022-2026 production outlook

Fri, 14th Jan 2022 13:56

(Recasts with details, context)

SAO PAULO, Jan 14 (Reuters) - Petroleo Brasileiro SA
(Petrobras) on Friday lowered its 2022-2026
production outlook to reflect production-sharing agreements
involving the Atapu and Sepia oilfields.

Brazil's state-run oil company said in a securities filing
it now expects to produce 2.6 million barrels of oil equivalent
per day (boed) in 2022, down from about 2.7 million boed in its
previous forecast, with a range of more or less 4%.

For the 2023-2026 period, Petrobras also lowered its oil and
gas production targets by an average 100,000 boed.

The Atapu and Sepia production-sharing agreements were
signed after Petrobras and several other oil giants acquired
stakes in the oilfields in an auction late in 2021.

TotalEnergies, Qatar Petroleum, Petronas and
Galp's Petrogal hold stakes in Sepia, while Shell
, TotalEnergies, Petrogal and PPSA are part of Atapu's
production deal.

Petrobras operates both oilfields.
(Reporting by Gabriel Araujo and Roberto Samora; editing by
Jason Neely)

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