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 2023, 2022 and 2021:
| |||||||||||||||||||||||||||||
2023 (1) |
2022(1) |
2021 (1) | |||||||||||||||||||||||||||
Oil + NGL |
Synth. Oil |
Nat. Gas |
Synth. |
Total |
Oil + NGL |
Synth. Oil |
Nat. Gas |
Synth. |
Total |
Oil + NGL |
Synth. Oil |
Nat. Gas |
Synth. |
Total | |||||||||||||||
| Brazil | 814,462 | - | 364,486 | - | 879,379 | 781,253 | 753 | 373,017 | 306 | 848,497 | 806,040 | 830 | 423,261 | 479 | 882,340 | ||||||||||||||
| Tupi field (3)(9) | 215,921 | - | 160,881 | - | 244,575 | 217,383 | - | 157,876 | - | 245,502 | 233,662 | - | 151,483 | - | 260,642 | ||||||||||||||
| Búzios field (3)(9) | 200,306 | - | 31,577 | - | 205,930 | 189,419 | - | 23,192 | - | 193,549 | 196,387 | - | 6,344 | - | 197,517 | ||||||||||||||
| Other | 398,235 | - | 172,028 | - | 428,874 | 374,451 | 753 | 191,949 | 306 | 409,446 | 375,991 | 830 | 265,434 | 479 | 424,181 | ||||||||||||||
| International: | - | - | - | - | |||||||||||||||||||||||||
| South America (outside of Brazil) (8) | 889 | - | 50,710 | - | 9,921 | 994 | - | 54,721 | - | 10,740 | 1,209 | - | 62,858 | - | 12,404 | ||||||||||||||
| North America | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | ||||||||||||||
| Total International | 889 | - | 50710 | - | 9,921 | 994 | 54,721 | 10,740 | 1,209 | 62,858 | 12,404 | ||||||||||||||||||
| Total consolidated production | 815,351 | - | 415,196 | - | 889,300 | 782,247 | 753 | 427,738 | 306 | 859,237 | 807,249 | 830 | 486,119 | 479 | 894,745 | ||||||||||||||
| Equity method investees (4): | |||||||||||||||||||||||||||||
| South America (outside of Brazil) | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | ||||||||||||||
| North America | 2,528 | - | 1,169 | - | 2,736 | 3,043 | - | 1,321 | - | 3,279 | 3,539 | - | 1,528 | - | 3,811 | ||||||||||||||
| Africa | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | ||||||||||||||
| Worldwide production | 817,879 | - | 416,365 | - | 892,036 | 785,290 | 753 | 429,059 | 306 | 862,515 | 810,788 | 830 | 487,647 | 479 | 898,556 | ||||||||||||||
(1) Apparent differences in the sum of the numbers are due to rounding.
(2) Natural gas production figures are the production volumes of natural gas available for sale, excluding flared and reinjected gas and gas consumed in operations.
(3) The Búzios and Tupi fields are separately included as they each contain more than 15 % of our total proved reserves.
(4) Equity-accounted investees.
(5) We produced synthetic oil and synthetic gas from oil shale deposits in São Mateus do Sul, in the Paraná Basin of Brazil.
(6) Oil production includes production from EWT and NGL.
(7) Conversion rate for gas is 1 boe = 5,614.65 cf.
(8) Production in Argentina is non-conventional and was formerly reported as Synthetic Oil/Gas. Non-conventional oil production in Argentina is 299 mbbl (2023), 270 mbbl (2022), 209 and mbbl (2021). Gas production in Argentina is 20,390 mmcf (2023), 19,585 mmcf (2022) and 15,956 mmcf (2021).