RIO DE JANEIRO—The Lula Field, the first presalt oil field to enter operations offshore Brazil, could hit 1 million barrels of oil equivalent per day (MMboe/d) less than one decade after it began producing oil in 2010.
The field is producing about 900,000 boe/d as operator Petrobras moves deeper into the field’s last phase of development. The company began pumping first oil from the last FPSO installed at the field in February, moving closer to the 1 MMboe/d production mark.
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