PetroRio conclui aquisição da Frade Japão e passa a ter 70% do Campo de Frade

PetroRio Completes Acquisition of Frade Japão Petróleo and Now Holds 70% of Frade Field

Written by Paulo Nogueira

Published on 03/10/2019 at 01:00

Updated on 02/10/2019 at 18:49

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PetroRio Replicates the Success of the Polvo Field in Frade, Making the Field More Profitable and Extending Its Economic Life.

On Wednesday, October 2, PetroRio announced that the acquisition of Frade Japão Petróleo Limited (FJPL), which holds an 18.26% interest in the concession and operational assets of the Frade Field, has been completed. The Brazilian Oil Company’s Production Increased by 36 Percent and Reached 20.2 Thousand Barrels Per Day.

From this date forward, the economic result from the 18.26% stake in the Frade Field will be recorded and incorporated into PetroRio’s financial statements.

ARTICLE CONTINUES BELOW

The Company Invests 20 Million Dollars in the Polvo Field

Monday (09/30) brought good news to the Brazilian offshore oil and gas sector. The national oil company PetroRio announced an investment of US$ 20 million in the Polvo Field, in the Campos Basin.

The amount will be invested in the third phase of revitalization for the asset, which will involve a drilling campaign, another good news for the rigs waiting for contracts in Brazilian waters.

After a study identified 22 additional drilling opportunities in the Polvo Field, it is estimated that up to four wells will be necessary for the volumes of the asset to increase to around 3 million and 6 million barrels of oil.

PetroRio Completes Acquisition of Frade Japão Petróleo and Now Holds 70% of Frade Field

PetroRio Replicates the Success of the Polvo Field in Frade, Making the Field More Profitable and Extending Its Economic Life.

The Company Invests 20 Million Dollars in the Polvo Field

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PetroRio Completes Acquisition of Frade Japão Petróleo and Now Holds 70% of Frade Field

PetroRio Replicates the Success of the Polvo Field in Frade, Making the Field More Profitable and Extending Its Economic Life.

The Company Invests 20 Million Dollars in the Polvo Field

Seen from space, an image taken by an astronaut shows an unlikely oasis in the Saudi Arabian desert, protected by a terrain that slows the advance of sand, surrounded by green circles, remnants of an extinct lake and nearly 10,000 years of preserved history.

While the U.S. still faces limitations in deep space, China is developing unprecedented technology with strategic satellites that maintain communication with the far side of the Moon and aims for dominance by 2030.

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The Blood Falls of Antarctica hide a living ecosystem trapped under the ice for over 2 million years, where microbes survive without light, without oxygen, and without ever having seen the Sun.

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