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The Campo de Frade revitalization campaign is being a major highlight in the Campos Basin region. With the new discovery of signs of oil in Maracanã, PRIO is preparing for even more intense months.
The market giant oil and gas PRIO announced last Monday, (08/05), that it found new signs of oil in the Maracanã prospect, located in the Campos Basin. The discovery took place during the Campo de Frade revitalization campaign, which has been a success in the company's projects. Now, the company is preparing to carry out even more intensive tests in the search for new reservations over the coming months.
New discovery of signs of oil by PRIO in the Maracanã prospect guarantees yet another advance in the company's campaign in the Campos Basin
Brazilian oil and gas company PRIO, formerly known as PetroRio, is about to expand its presence in the oil industry in Brazil.
During a field revitalization campaign, PRIO discovered evidence of oil in a prospect located off the Brazilian coast.
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During the second phase of the revitalization of Campo de Frade, PRIO contracted the Norbe VI rig to carry out the development of Wahoo in the Campos Basin, in Brazil, and it was in this context that the discovery was made.
The prospect in question is Maracanã (well 3-PRIO-1-RJS), located 6 km southwest of FPSO Valente. According to the company, the Eocene sandstone, which is the primary target, presented a 36-meter column of oil with 28% rock porosity and original initial pressure.
The company also highlighted that it found evidence of oil in the secondary target, the Miocene sandstone, with 29% porosity. This discovery is a big step for PRIO and for the Brazilian oil industry.
With the contract for the Norbe VI rig set to end in August 2023, the company has ambitious plans to continue to develop the Frade field and expand its operations in the country.
Furthermore, with the discovery of oil in Maracanã, PRIO can contribute to strengthening the country's economy, generating jobs and promoting the sustainable development of the oil and gas industry.
Company intends to intensify tests in search of new oil reserves after the revitalization of Campo de Frade, in the Campos Basin
PRIO announced that it plans to carry out technical studies in the coming months to assess the possibility of drilling one more extension well in a prospect located off the Brazilian coast.
The discovery made in the Maracanã prospect, located 6 km southwest of FPSO Valente, guarantees the company a promising future, depending on the next tests.
According to PRIO, if the accumulations are economically viable, they could pave the way for new development in Campo de Frade.
PRIO owns 100% of Campo de Frade, which is a subsea development located in the north of the Campos Basin with wells linked to FPSO Valente.
The company acquired the field in January 2021 following agreements with Petrobras and Chevron in 2019 and 2021, respectively.
Recently, the oil company also completed the acquisition of TotalEnergies' stake in block BM-C-32, which includes the Itaipu field in the Brazilian offshore.
The company PRIO established a long-term operating agreement with Ocyan for the use of West Capricorn's sixth generation semi-submersible platform in offshore operations in Brazil.
Now, it is looking for oil in the Maracanã prospect, in the Campos Basin, and is investing in expanding its presence in the domestic market.
