The annual average of our total operated production of oil and gas, including NGL share of both Petrobras and associates , in was 3. Our partners or members of joint arrangements to which we are a party may not be able to meet their financial or other obligations, which may threaten the viability of certain projects in which we are engaged. LABSA 1. By dint of this, the energy player intends to provide people with safety, debt reduction and value creation. The following table summarizes the reserves variations in the last three years, in terms of oil equivalents, including synthetic oil and gas.
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Petroleo Brasileiro S. To this end, the company has plans in place for achieving the target. By dint of this, the energy player intends to provide people with safety, debt reduction and value creation. Details of the Plan. Petrobras, which focuses on emerging as a company with higher operating return than its capital cost, targets to attain 1. Petrobras is committed to investing in deepwater and ultra-deepwater assets, especially pre-salt, which is likely to rake in maximum moolah. Oil and Gas Production Estimates.
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Brazilian law requires that the Brazilian federal government owns a majority of our voting stock, and so long as it does, the Brazilian federal government will have the power to elect a majority of the members of our board of directors and, through them, the executive officers who are responsible for our day to day management. The report is only available for a limited time. In Bolivia, our gas and condensate production comes, among others, principally from the San Alberto and San Antonio production contracts, which are operated mainly to supply gas to Brazil and Bolivia. Our activities are strongly concentrated in Brazil. Biggest Tech Breakthrough in a Generation. In addition, increased competition in the oil and gas sector in Brazil and our own capital constraints may make it more difficult or petrobras 2020 investment to obtain additional acreage in bidding rounds for new concessions and to explore existing concessions. We began operations in and since then we have been carrying out crude oil and natural gas production and refining activities in Brazil on behalf of the government.
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