Petrobras Pushes Limits on Offshore Platforms Amid Global Oil Shortage

Petrobras, Brazil's national oil company, has found a way to squeeze more oil from its existing offshore platforms. The company is producing over the designed capacities of its mega-platforms at Buzios and other deep-water fields.

This surplus production, equivalent to 134,000 barrels per day or about 5% of its oil output, is helping to push Petrobras' output to a record high due to global supply constraints caused by the Iran war.

Renata Baruzzi, executive director of engineering, technology and innovation, said that this new strategy has become 'the new normal.' The company is replicating the approach at other FPSOs, allowing it to supply a market in need without waiting years for new vessels to be built.