PetroRio's Focus in 2020 Will Be on the Campos Basin, with Extraction Costs That Could Reach 5 Dollars per Barrel

PetroRio’s Focus in 2020 Will Be on the Campos Basin, with Extraction Costs That Could Reach 5 Dollars per Barrel

Written by Paulo Nogueira

Published on 20/05/2020 at 12:54

Updated on 20/05/2020 at 12:55

OSX-3 FPSO e o CEO da PetroRio Roberto Monteiro

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PetroRio CEO Says Focus in 2020 on Integration of Tubarão Martelo Field

The independent Brazilian oil company PetroRio will focus this year on integrating the Tubarão Martelo field with the Polvo field in the Campos Basin.

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PetroRio announced the acquisition of the offshore Tubarão Martelo field from Dommo Energia and the production unit in the area (OSX-3 FPSO) in February and expects regulatory approvals for the purchase in the coming months.

“It is more efficient in terms of operational investment to focus on this connection now. We will be able to add new reserves at costs around five dollars per barrel, so that is our priority,” said CEO Roberto Monteiro in a conference call about the first quarter results on Monday.

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PetroRio’s Focus in 2020 Will Be on the Campos Basin, with Extraction Costs That Could Reach 5 Dollars per Barrel

PetroRio CEO Says Focus in 2020 on Integration of Tubarão Martelo Field

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PetroRio’s Focus in 2020 Will Be on the Campos Basin, with Extraction Costs That Could Reach 5 Dollars per Barrel

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