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With the production of 8 barrels of oil per day at the MUP5 well, the company expanded the capacity of Campo de Frade by 25%. PRIO has been investing heavily in the exploration campaign in the Campos Basin offshore area in recent months.
The independent oil company PRIO recently announced great results for its exploration campaign in Campo de Frade. It put into operation a new offshore well in the Campos Basin region, named MUP5. The location resulted in a production of approximately 8 thousand barrels of oil per day, surpassing all expectations of the national oil and gas market this week.
PRIO advances in the Campos Basin exploration campaign and puts a new well into production in the Campo de Frade offshore region
Aiming at the future opportunities of the national oil and gas market, the independent company PRIO announced new great results for its operations.
It started the production of one more well in its campaign of exploration Campos Basin, more specifically in Campo de Frade. Named MUP5, the 7-FR-60HP-RJS well had its initial production stabilized at approximately 8 barrels of oil per day.
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This is a great number for the independent oil company, which surprised the national market with the initial results of the campaign at the new well.
With this number, PRIO was able to increase oil production in Campo de Frade by around 25%, making its presence even more significant in the national oil exploration scenario. fuels.
The company's total production reached another 10% expansion in early March, reaching 80 barrels per day. One of PRIO's main goals is to approach the level of 100 barrels per day by 2023.
“The MUP5 well, the third producer well of the Frade Revitalization Plan, was executed in a shorter period than the initial projections and almost 1 year before the initial planning, with a total cost of US$ 50 million for its construction and subsea connection ”, said the independent oil company in a press release.
In addition to the new operation at the MUP5 well in Campo de Frade, the Company announces its financial results for 2022 with large numbers in the market
In addition to the announcement of the large oil production figures at the new well in Campo de Frade, PRIO also released its financial results for the year 2022.
It made a record annual net profit of US$ 711 million, an increase of 193% compared to 2021. In relation to the fourth quarter of the year, the company added 189,8 million in profit, representing an increase of 19% compared to the same period of 2021.
As for oil production capacity, PRIO reached the mark of 14,8 million barrels, with 40,4 thousand barrels of oil equivalent per day.
In the fourth quarter of the year alone, the company's oil production reached the mark of 47,6 thousand barrels of oil equivalent per day.
With the new operation in pit MUP5 of PRIO in Campo de Frade, the oil company will be able to expand its production even more satisfactorily.
About PRIO
“Focused on investment and the recovery of producing assets, PRIO specializes in efficient reservoir management and the redevelopment of mature fields. We believe in conducting business with a focus on operational efficiency, safety and care for the physical and mental health of our employees.”
