Portuguese 
English 
Spanish 
3 min of reading 
The 30% Stake of Petrobras Was Purchased by PetroRio for US$ 100 Million. Frade Is Located in the Basin of Campos, About 172 Km from the Polvo Field.
PetroRio reported in a relevant fact on January 21 that the National Agency of Petroleum, Natural Gas and Biofuels (ANP) approved the assignment of the 30% stake in the Frade Field, in the Basin of Campos, currently held by Petrobras, to PetroRio. Looking for a job? Techocean Macaé URGENTLY Calls for Welder, Mechanical Hydrojet Operator, Scaffold Assembler and More
Also Read
- Recruitment and Selection for Offshore Vacancies in Rio das Ostras, Today January 23
- Multinational Actemium in Macaé Initiated Onshore Recruitment and Selection for Many Positions for Elementary and High School
- Subsea 7 Opens Positions in RJ for Candidates Without Experience for Its Internship Program in the Oil and Gas Industry
- Ambev, the Largest Brewery in the World, Will Make a Multi-Million Dollar Investment to Expand Its Factory in Paraná
Thus, within the next few days, the Addendum to the Concession Contract will be signed by the ANP, completing the acquisition of all rights and obligations for the exploration, development and production of oil and natural gas from Petrobras in the Frade Field. After the signing, PetroRio will hold 100% of the Frade Field and 100% of the FPSO Frade.
According to the company’s statement, “the transaction will add approximately 17 million 1P barrels and increase about 5,200 barrels of oil to PetroRio’s daily production. Additionally, upon completion of the acquisition, the Company will be entitled to an oil stock of approximately 400,000 barrels located in the FPSO Frade.”
-
Brazilian giant expands borders in the Southeast: Petrobras confirms new oil discovery in ultra-deep waters in the pre-salt of the Campos Basin.
-
Alert in the global energy market: Severe tropical cyclone hits the coast and disrupts gas production at major plants in Australia, threatening global supply.
-
Petrobras finds high-quality oil in the pre-salt at 113 km from RJ and reignites expectations about strategic reserves in the Campos Basin.
-
Ocyan opens registrations for startups focused on innovation in the oil and gas sector and will select projects for Innovation Day with the support of Nexio.
In this same resolution, the ANP also approved the reduction of the estimated value for the decommissioning of the Frade Field from US$ 393 million to US$ 179 million, which will generate a positive adjustment consistent in PetroRio’s balance sheet under Provisions for Abandonment.
About the Frade Oil Field in the Basin of Campos
The Frade oil field is located in the Basin of Campos, about 172 km from the Polvo field, also operated by PetroRio and part of a production integration project with Tubarão Martelo, purchased from Dommo, formerly OGX.
PetroRio entered Frade in October 2018, with the purchase of the stake from Frade Japan Petroleum Ltda, which held an 18.26% interest, and became the operator in January 2019 when the company became the operator by acquiring the 51.74% stake from Chevron in Frade.
The oil company is also preparing a Revitalization Plan for the asset in order to extend the concession’s useful life until 2041. The project plans to drill four producer wells and three injectors but was postponed due to the crisis.
In addition to Frade, PetroRio operates the Polvo (100%) and Tubarão Martelo (80%, recently acquired from Dommo Energia) oil fields, both in the Basin of Campos.
In exploration phase, it holds stakes in the blocks: CE-M-175 (50%) in the Basin of Ceará; FZA-M-254 (100%) and FZA-M-539 (100%) in the Basin of Foz do Amazonas.
The company’s main strategy is to acquire producing oil fields in the region to create a private operating hub and reduce production costs per barrel,
Seja o primeiro a reagir!