Petro-Victory Receives Authorization From ANP to Acquire Remaining Stake in São João Field and Expands Its Presence in the Oil and Natural Gas Sector

Written by Ruth Rodrigues

Published on 22/08/2022 at 13:30

Updated on 31/08/2022 at 21:57

Foto: Pixabay

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Seeking to Become Even More Relevant in the National Oil and Natural Gas Scenario, Petro-Victory Has Been Investing in the Acquisition of New Assets and, After ANP Authorization, Secured Full Participation in the São João Field.

The oil company Petro-Victory has a 100% stake in the São João Field, located in the Barreirinhas Basin. The company recently received the approval from the National Petroleum Agency (ANP) for the acquisition of the remaining participation in the asset and is now looking to invest in expanding its presence in the Brazilian oil and natural gas sector with the new asset.

ANP Granted Authorization to Petro-Victory for the Purchase of the São João Field and Company Holds 100% Participation in the Oil Asset

Petro-Victory took another important step for its growth in the national oil and natural gas sector this past week. This is because the ANP granted the necessary authorization for the oil company to acquire the remaining stake in the São João Field, located in the Barreirinhas Basin.

Now, the oil company holds a total of 100% participation in the asset and will be able to leverage its relevance in the fuel sector to expand its business.

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The company previously held a total of 50% participation in the oil and natural gas asset but was still awaiting ANP authorization for the purchase of the other half, which has recently been made possible by the state agency.

The São João Field has significant production relevance in the Barreirinhas Basin and, until the first half of 2022, averaged 17 barrels of oil per day through three wells.

Petro-Victory celebrated the acquisition of the remaining participation in the oil and natural gas asset and stated that, with the 50% purchased, there will be an increase of 8.5 barrels of oil per day in the production portfolio.

The company also highlighted that it presented a new development plan to the ANP for the São João Field, which is expected to reach over 500 barrels of oil per day by re-entering and drilling various pay zones in 9 existing wells. “This work is scheduled to begin in early 2023, subject to the provision of a suitable reconditioning platform,” emphasized the oil and gas company.

Learn More About Petro-Victory

Petro-Victory is a publicly traded company focused on the oil and gas sector dedicated to the acquisition and development of fuel resources in Brazil.

The company currently holds interests in thirty-eight (38) licenses, totaling 257,604 acres in two (2) oil-producing basins in Brazil.

Among the company’s activities in the national oil and natural gas sector, it is responsible for evaluating, analyzing, and updating geological and geophysical assessments; developing independent auditable reserve reports; developing and executing drilling and work programs that maximize short- and long-term production; and converting underdeveloped assets into high-value and high-margin production.

Discover More About the São João Field

The São João Field, with a Development Area of 5.75 km², is located in the Barreirinhas Basin, about 110 km east of the city of São Luís, the capital of the state of Maranhão.

Petro-Victory, which until then only held half of the participation in the site, is now the sole explorer of the site’s fuel resources and intends to invest in expanding the area’s productivity in the coming years.

Petro-Victory Receives Authorization From ANP to Acquire Remaining Stake in São João Field and Expands Its Presence in the Oil and Natural Gas Sector

Seeking to Become Even More Relevant in the National Oil and Natural Gas Scenario, Petro-Victory Has Been Investing in the Acquisition of New Assets and, After ANP Authorization, Secured Full Participation in the São João Field.

ANP Granted Authorization to Petro-Victory for the Purchase of the São João Field and Company Holds 100% Participation in the Oil Asset

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

Learn More About Petro-Victory

Discover More About the São João Field

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Petro-Victory Receives Authorization From ANP to Acquire Remaining Stake in São João Field and Expands Its Presence in the Oil and Natural Gas Sector

Seeking to Become Even More Relevant in the National Oil and Natural Gas Scenario, Petro-Victory Has Been Investing in the Acquisition of New Assets and, After ANP Authorization, Secured Full Participation in the São João Field.

ANP Granted Authorization to Petro-Victory for the Purchase of the São João Field and Company Holds 100% Participation in the Oil Asset

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

Learn More About Petro-Victory

Discover More About the São João Field

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