Petrobras Lifts Own Production 14% as P-79 Starts Up and Búzios FPSOs Set Records
Petrobras reported record average own oil, NGL and natural-gas production of 3.34 million boe/d in the second quarter of 2026, up 14.1% year on year and 3.4% sequentially. The increase reflected improved operational efficiency, ramp-up of the Maria Quitéria, Alexandre de Gusmão and P-78 FPSOs, and the May 1 start of production from P-79 at Búzios. P-79 started three months ahead of the timing in Petrobras' 2026–2030 business plan and injected first gas on June 26. Búzios platforms subsequently reached daily production records of 1.1 million b/d and 1.2 million b/d during June.
Confirmed facts: Petrobras' own production reached a record 3.34 million boe/d in 2Q 2026, supported by higher operating efficiency and activity across several FPSOs. P-79 began production at Búzios on May 1, three months ahead of the date in the 2026–2030 business plan and five months earlier than the previous year's planning basis. The 180,000-b/d unit also injected first gas 56 days after start-up. P-78 and P-79 contributed to Búzios setting successive daily production records, while Almirante Tamandaré maintained the highest reported platform output in Brazil with average oil production of 253,000 b/d in June. Mero averaged approximately 740,000 b/d during the quarter.
Intelatus interpretation: The results demonstrate that Petrobras' near-term production growth is increasingly tied to ramp-up execution and reliability across its large FPSO portfolio. Early P-79 delivery and rapid first-gas injection reduce schedule risk for Búzios capacity growth, while the addition of ten producing wells indicates continuing demand for subsea, well-service, maintenance and offshore logistics support. The relationships extracted below are directly supported by this release but remain pending analyst review rather than database verification.