EX-15.3 9 ex15-3.htm EX-15.3

Exhibit 15.3

HYDROCARBON PRODUCTION BY GEOGRAPHIC AREA

The following table sets forth our production of crude oil, natural gas, synthetic oil and synthetic gas by geographic area in 2023, 2022 and 2021:

 

 

 

2023 (1)

2022(1)

2021 (1)

 

Oil + NGL
(mbbl) (6)

  

Synth. Oil
+
NGL (mbbl)
(5)(7)

  

Nat. Gas
(mmcf) (2)

  

Synth.
Gas (mmcf)
(2)(5)

  

Total
(mboe)

  

Oil + NGL
(mbbl) (6)

  

Synth. Oil
+
NGL (mbbl)
(5)(7)

  

Nat. Gas
(mmcf) (2)

  

Synth.
Gas (mmcf)
(2)(5)

  

Total
(mboe)

  

Oil + NGL
(mbbl) (6)

  

Synth. Oil
+
NGL (mbbl)
(5)(7)

  

Nat. Gas
(mmcf) (2)

  

Synth.
Gas (mmcf)
(2)(5)

  

Total
(mboe)

Brazil  814,462   -    364,486   -    879,379     781,253    753    373,017    306    848,497   806,040   830   423,261   479   882,340
 
Tupi field (3)(9)  215,921   -    160,881   -    244,575   217,383   -   157,876   -   245,502   233,662   -   151,483   -   260,642
Búzios field (3)(9)  200,306   -    31,577   -    205,930   189,419   -   23,192   -    193,549   196,387   -   6,344   -   197,517
Other  398,235   -    172,028   -   428,874   374,451   753   191,949    306    409,446   375,991   830   265,434   479   424,181
International:     -       -           -       -                        
South America (outside of Brazil) (8)  889   -    50,710   -    9,921   994   -   54,721   -   10,740   1,209   -   62,858   -   12,404
North America  -   -   -   -   -   -   -   -   -   -   -   -   -   -   -
Total International  889   -    50710   -    9,921   994       54,721       10,740   1,209       62,858       12,404
 
Total consolidated production  815,351   -    415,196   -    889,300   782,247    753   427,738    306   859,237   807,249   830   486,119   479   894,745
 
Equity method investees (4):                                                          
South America (outside of Brazil) -   -   -   -   -   -   -   -   -   -   -   -   -   -   -
North America  2,528   -    1,169   -    2,736    3,043   -    1,321   -    3,279   3,539   -   1,528   -   3,811
Africa -   -   -   -   -   -   -   -   -   -   -   -   -   -   -
 
Worldwide production  817,879   -     416,365   -   892,036    785,290   753   429,059    306    862,515   810,788   830   487,647   479   898,556
 

(1) Apparent differences in the sum of the numbers are due to rounding.

(2) Natural gas production figures are the production volumes of natural gas available for sale, excluding flared and reinjected gas and gas consumed in operations.

(3) The Búzios and Tupi fields are separately included as they each contain more than 15 % of our total proved reserves.

(4) Equity-accounted investees.

(5) We produced synthetic oil and synthetic gas from oil shale deposits in São Mateus do Sul, in the Paraná Basin of Brazil.

(6) Oil production includes production from EWT and NGL.

(7) Conversion rate for gas is 1 boe = 5,614.65 cf.

(8) Production in Argentina is non-conventional and was formerly reported as Synthetic Oil/Gas. Non-conventional oil production in Argentina is 299 mbbl (2023), 270 mbbl (2022), 209 and mbbl (2021). Gas production in Argentina is 20,390 mmcf (2023), 19,585 mmcf (2022) and 15,956 mmcf (2021).