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BW Offshore Signed A Contract With PetroRio For A One-Year Extension of FPSO Polvo Operation, Starting This In 2019 Until 2020, But There Is An Option Until 2022.
The Norwegian specialist in floaters, BW Offshore, signed a one-year extension with the operator PetroRio For The Lease And Operation Of The Floating Production, Storage, And Offloading Vessel Polvo In Brazil. The agreement announced on Friday extends the deadline to the third quarter of 2020, including options until the third quarter of 2022.
The independent Brazilian company plans to drill five wells in the heavy oil development in 2019 as part of a US $60 million investment program to revitalize operations in the mature shallow water field in the Campos basin.
Last year, PetroRio drilled and completed two wells – POL-H and POL-Z – and was working on a third well, POL-M, in November.
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Government unlocks R$ 554 million for a highway that has been requested for decades and accelerates the duplication of BR.
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Without bricks, without cement, and without endless construction: the cardboard house that is assembled in modules and can be moved.
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Billions of barrels on the equatorial margin could lead Amapá to double its oil production in Brazil — the state aims to enter the route of companies in the Campos Basin, attract investments, and boost jobs and businesses in the oil and gas sector.
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Without bricks, without cement, and without endless construction: the cardboard house that is assembled in modules and can be moved.
PetroRio, an independent Brazilian oil company, has been meeting its revitalization targets for the Polvo Field (BM-C-8), a mature asset in the Campos Basin that the company acquired in 2013.
The field is in its second Revitalization Plan, and in early April 2018, PetroRio drilled four wells.
In 2016, two years after Polvo was purchased from BP and Maersk, PetroRio initiated the first phase of the Polvo revitalization plan to extend the asset’s lifespan. During this process, PetroRio carried out interventions and increased production by 20%. In this phase, the company’s goal was to boost production by revitalizing its producing wells through workovers.
The Terpor (Macaé Port Terminal) could be operational in up to 180 days with full support from the government of the state of Rio de Janeiro. The project will have the capacity to accommodate large vessels and will be an excellent business opportunity at the national level. Learn more here.
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