PetroRio Releases Operational Data for the Second Quarter of 2020

Written by Paulo Nogueira

Published on 10/07/2020 at 18:40

Updated on 10/07/2020 at 19:45

PetroRio óleo e gás junho 2020

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PetroRio, the largest independent oil and gas company in the country, announces its preliminary Operational Data for June 2020. In the second quarter, 1.4 million barrels (bbls) were sold from the Polvo and Frade Fields, which, combined with a similar number obtained in the first three months, results in 2.8 million bbls achieved in the semester.

The daily production of 23,500 barrels is in line with the company’s monthly production in the first six months of the year. Check the tables below:

The data refers to 70% of the Frade Field. PetroRio awaits the completion of the acquisition of the remaining 30% announced on November 28, 2019, to incorporate this volume into the Company’s monthly production.

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The reduction in production at Manati between March and May 2020 was due to a decline in demand from the customer (Petrobras) during that period. The operation has a minimum consumption contract (take-or-pay) equivalent to 1,574 boe per day.

Stringent Safety Protocol

The lower production at Polvo in June is attributed to a shutdown of one week on the FPSO leased and operated by BW Offshore in the Field, following the identification of Covid-19 cases on board, which reduced the operational efficiency of the vessel.

Thus, PetroRio reinforces the requirement for safety and health protocols from all its suppliers in addition to the measures already adopted by the service providers themselves.

PetroRio aims to avoid new occurrences and, if necessary, ensure a quick neutralization of events to prevent any disruption to its operations.
About PetroRio

PetroRio is the largest independent oil and natural gas company in Brazil. The Company seeks to increase production through the acquisition of new producing assets, redevelopment, greater operational efficiency, and rationalization of production costs and corporate expenses. Its primary objective is to create value for its shareholders with increasing financial discipline and preservation of its liquidity, with total respect for safety and the environment. For more information, visit the site: www.petroriosa.com.br.

PetroRio Releases Operational Data for the Second Quarter of 2020

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