The oil and gas sector giant announces significant benefits for the state
PRIO, a notable leader in the Brazilian oil and gas market, is committed to injecting approximately R$2,5 billion into royalties to Espírito Santo, directly benefiting the region close to the innovative Wahoo field, located in the Campos Basin. This announcement appears as a promising milestone for the local economy, predicting the first oil extraction for the third quarter of 2024, subject to the approval of environmental licenses by Ibama.
The announcement was made at an event organized by the Federation of Industries of Espírito Santo (Findes), which brought together businesspeople and executives from the sector to discuss the company's future operations in the region. This initiative aims not only to strengthen the local economy through the generation of royalties, but also establish the Wahoo field as a pioneer in operational interconnection methods in Latin America, with expectations of producing up to 40 thousand barrels of oil daily.
Innovation and technology on the horizon
The development of the Wahoo field represents a significant advancement for PRIO and the oil and gas sector as a whole. By acquiring the field in 2021, the company demonstrated its ability to revitalize mature or previously unviable fields, identifying unique exploration opportunities. The strategy includes the installation of a tieback submarine to connect Wahoo to the existing production system in the Frade field, in Rio de Janeiro, exemplifying the company's constant search for operational efficiency and sustainability.
This project not only reinforces PRIO's position as an innovative force in the market, but also promises to contribute significantly to the economy of Espírito Santo, generating hundreds of direct jobs and moving around R$860 million in business in the local supply chain even before from the start of production.
Commitment to regional development
The collaboration between PRIO and local suppliers is a testament to the economic potential that the Wahoo project brings to Espírito Santo. With more than 500 companies involved in the state's oil and gas chain, the project not only promotes job creation, but also stimulates the growth of local suppliers, reinforcing the importance of the industry for the regional economy.
Furthermore, leaders and representatives of the sector, such as the president of Findes, Cris Samorini, and senator Fabiano Contarato, highlighted the importance of initiatives like this for the sustainable development of the state, emphasizing the need to generate jobs, income and implement public policies to reduce inequality.
A promising future for Espírito Santo
PRIO, by leading the Wahoo project, not only demonstrates its commitment to innovation and operational efficiency, but also highlights the positive impact that the oil and gas sector can have on the economic and social development of Espírito Santo. With the promise to generate royalties and strengthen the local supply chain, the project is a clear sign of the potential for growth and prosperity for the state and its inhabitants.
Source: Mário Correa – PRIO Press Office.
