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PRIO Receives Drilling License for Wahoo Field and Will Invest US$ 850 Million, Aiming for Significant Production.
The PRIO, the largest independent oil and gas company in Brazil, received on February 28, 2025, the exemption license from the Brazilian Institute of Environment and Renewable Natural Resources (Ibama) for the Wahoo Field, in the Campos Basin, Espírito Santo.
The delivery license marks the beginning of an important phase for the field development project, which aims to increase PRIO’s oil production by up to 40,000 barrels per day. The Wahoo Field represents a significant step for the company, consolidating its position as one of the leading operators in the oil and gas sector in Brazil.
Execution of PRIO’s Project
With the drilling license in hand, PRIO will initiate the mobilization of the Hunter Queen rig, which will be used to drill six wells in the Wahoo field.
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Of these six wells, four will be producers and two will be injectors, with the aim of maximizing production and ensuring the continuity of the process.
PRIO is significantly investing in the Wahoo project, with a total budget of US$ 850 million, and the import license was a crucial step for the feasibility of this large operation.
PRIO Investment and Economic Benefits for the Region
The drilling project in the Wahoo Field not only brings benefits to PRIO but also to the local and national economy. Roberto Monteiro, CEO of PRIO, highlighted the economic importance of the project, which is expected to generate over R$ 4 billion in royalties for Espírito Santo and the Union throughout the life of the Wahoo field.
Furthermore, the operation has already generated approximately R$ 1 billion in the local supplier chain, boosting the region’s economy.
PRIO has been working to ensure that the development of the Wahoo Field serves as a growth engine for both the company and the involved communities.
“Wahoo is our priority and a project we have been preparing for quite some time. In addition to increasing our production by up to 40,000 barrels per day, its operation will stimulate the economy with jobs and eventually generate over R$ 4 billion in royalties for Espírito Santo and the Union throughout its lifetime,” stated Roberto Monteiro.
The operation in the Wahoo Field is being planned with a focus on sustainability and social responsibility, ensuring that all stages of the project adhere to the required environmental standards.
The investigation license was obtained after a lengthy process of analysis and environmental evaluation, ensuring that all possible measures to minimize environmental impacts are followed.
Challenges and Next Steps for the Wahoo Project
Despite obtaining the detailed license, PRIO still needs to proceed with other important steps for the development of the Wahoo Field.
One of the next phases is the assessment of the Environmental Impact Study, a requirement for the issuance of the preliminary license and for the installation of the necessary subsea infrastructure for production.
The subsea infrastructure, comprising a 30 km long pipeline, will be responsible for connecting the Wahoo Field to the FPSO Frade, already used by PRIO in other fields.
This interconnection is crucial for the economic options of oil production from Wahoo.
Francilmar Fernandes, PRIO’s Operations Director, emphasized that the company is working to adapt the FPSO Frade to accommodate the new production coming from the Wahoo Field.
The interconnection between Wahoo and Frade is a strategic solution, known as “tieback”, which allows for the transfer of oil from the platform to the processing unit. Without this infrastructure, the development of the Wahoo Field would be economically unfeasible.
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