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Brazil's oil and gas production reached record high in December 2014

According to preliminary statistics by the National Agency of Oil, Gas and Biofuels of Brazil (ANP), total oil and gas production in Brazil reached a record high in December 2014, with about 3,096 mboe/d, including 2,497 mb/d of oil and 95.1 mcm/d of gas. This represents an 18% increase in oil production compared to December 2013 and a 5.9% increase over November 2014. Natural gas production rose by 17% compared to December 2013 and by 3.8% compared to November 2014. About 92% of oil and gas production came from fields operated by Petrobras and the bulk of the production came from offshore fields (93% for oil and 76% for gas). The Roncador field in the Campos basin was the largest oil production field with an average of 331,500 bbl/d, while the Lula field, in the Santos basin, was the largest producer of natural gas, with an average production of 10.3 mcm/d. Pre-salt oil production reached 667 kb/d of oil and 23.6 mcm/d of gas in December 2014.