Brazilian state-controlled oil giant Petrobras produced an average of 1.93 million barrels of crude per day at its domestic fields last year, down 2.5 percent from 2012, the company said Friday.
That result fell short of the target set by Brazil's largest company.
Petrobras' $236.7 billion investment plan for 2013-2017 forecast domestic crude output of 2 million barrels per day in 2013, 2.5 million bpd in 2016, 2.75 million bpd in 2017 and 4.2 million bpd in 2020.
The Rio de Janeiro-based company said a delay in bringing a new deep-water oil field into operation due to concerns about its impact on a coral reef was the main cause of the production decline.
It also blamed the output drop on delays in bringing two of its new oil rigs - P-55 and P-58 - into service in the Campos Basin, Brazil's largest oil province.
Once new wells are connected to those two production units and to the P-64 and P-61 platforms, "Petrobras will have the necessary conditions to increase production throughout" 2014, the statement said.
The company added that its natural gas production at domestic fields came in last year at 61.92 million cubic meters (2.2 billion cubic feet) per day, up 3.8 percent from 2012. EFE