PetroRio More Than Doubles Its Production With Frade

Written by Renato Oliveira

Published on 13/04/2019 at 01:00

Updated on 12/04/2019 at 16:38

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The Acquisition of Frade Field Doubles PetroRio’s Production Compared to Last Year

The oil company PetroRio saw its production last month (March) increase by 70% compared to February and 125% compared to the same period last year.
This is due to the acquisition of the Frade Field from Chevron by the oil company in February, which led March production to reach 20.8 thousand boe/day.

Although PetroRio operated only seven days at the Frade Field, the asset produced 9.7 thousand boed, meaning the plans to accelerate production at the field were satisfactory for the company.

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Future Planning

PetroRio plans to conduct a drilling campaign and a development plan for the Frade Field in the first quarter of 2020, aiming to extend the field’s lifespan by more than 10 years.

Regarding the Polvo field, the company wants to start exploratory campaigns in the Copacabana, Leblon, Ipanema, and Piratininga prospects later this month.

In a short time of operation, PetroRio already has a respectable portfolio, as it operates the Polvo Field with a 100% stake and holds 10% of the Manati field and 51.74% of the Frade field, and in the Amazonas Basin, the company operates blocks FZA-M-254 and FZA-M-539.

Did you know that oil discoveries this year are expected to exceed 30% compared to last year? Click here to stay informed!

PetroRio More Than Doubles Its Production With Frade

The Acquisition of Frade Field Doubles PetroRio’s Production Compared to Last Year

Future Planning

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PetroRio More Than Doubles Its Production With Frade

The Acquisition of Frade Field Doubles PetroRio’s Production Compared to Last Year

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