EX-15.3

EX-15.3 11 d883642dex153.htm EX-15.3 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 2019, 2018 and 2017:


	2019										2018										2017
	Oil + NGL (mbbl) ⁽⁵⁾		Synth. Oil + NGL (mbbl) ⁽⁴⁾⁽⁶⁾		Nat. Gas (mmcf) ⁽¹⁾		Synth. Gas (mmcf) ⁽¹⁾⁽⁴⁾		Total (mboe)		Oil + NGL (mbbl) ⁽⁵⁾		Synth. Oil + NGL (mbbl) ⁽⁴⁾		Nat. Gas (mmcf) ⁽¹⁾		Synth. Gas (mmcf) ⁽¹⁾⁽⁴⁾		Total (mboe) ⁽⁷⁾		Oil + NGL (mbbl) ⁽⁵⁾		Synth. Oil + NGL (mbbl) ⁽⁴⁾		Nat. Gas (mmcf) ⁽¹⁾		Synth. Gas (mmcf) ⁽¹⁾⁽⁴⁾		Total (mboe)
Brazil		791,970		754		551,194		298		884,639		741,766		929		541,557		259		832,998		785,161		969		555,820		183		878,79

Lula field ⁽²⁾		224,390		—		149,424		—		249,294		204,831		—		133,518		—		227,084		175,663				140,931				199,151
Búzios field ⁽²⁾		91,967		—		—		—		91,967		12,147		—		—		—		12,147		717								717
Other		475,613		754		401,770		298		543,378		524,787		929		408,039		259		593,766		608,780		969		414,889		183		678,929
International:
South America (outside of Brazil)		1,406		—		68,686		—		12,854		1,624		—		75,393		—		14,190		1,872		—		85,388		—		16,103
North America		—		—				—		—		14,289		—		4,365.4		—		15,017		13,164		—		21,450		—		16,739
Total International		1,406		—		68,686		—		12,854		15,914		—		79,758		—		29,206		15,037		—		106,838		—		32,843

Total consolidated production		793,376		754		619,880		298		897,493		757,680		929.5		621,316		259		862,203		800,198		969		662,659		183		911,641

Equity method investees ⁽³⁾:
South America (outside of Brazil)												—		—		—		—		—		—		—		—		—		—
North America		4,651		—		1,662		—		4,928		426		—		148		—		452		—		—		—		—		—

Africa		12,255		—				—		12,255		7,118		—		—		—		7,118		8,190		—		—		—		8,190

Worldwide production		810,282		754		621,542		298		914,676		765,224		929		621,463		259		869,771		808,388		969		662,659		183		919,831

⁽¹⁾	Natural gas production figures are the production volumes of natural gas available for sale, excluding flared and reinjected gas and gas consumed in operations.

⁽²⁾	The Búzios and Lula fields are separately included as they each contain more than 15% of our total proved reserves.

⁽³⁾	Equity-accounted investees.

⁽⁴⁾	We produce synthetic oil and synthetic gas from oil shale deposits in São Mateus do Sul, in the Paraná Basin of Brazil.

⁽⁵⁾	Oil production includes production from EWT and NGL.

⁽⁶⁾	Conversion rate for gas is 1 boe = 6,000 cf.

⁽⁷⁾	The gas to boe conversion rate for 2018 was rectified.