October 25, 2019 / 2:34 PM / 21 days ago

Petrobras exec says production costs in key oil zone to stabilize in Q4

RIO DE JANEIRO, Oct 25 (Reuters) - Production costs in a key offshore oil region known as the "pre-salt" should be around $5 to $6 per barrel in the fourth quarter, an executive at state-run oil firm Petroleo Brasileiro SA said on Friday.

In a conference call to discuss third-quarter results, Exploration and Production Director Carlos Alberto de Oliveira said costs could be slightly higher next quarter thanks to the ramp up of the P-70 platform and other one-off factors. On Thursday night, Petrobras, as the company is widely known, disclosed in its results release that production costs in the pre-salt had fallen to $5.03 in the quarter.

Reporting by Gram Slattery and Marta Nogueira; editing by David Evans

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