PetroRio Is Close to Taking Over 100% of the Frade Oil Field in the Campos Basin

Written by Flavia Marinho

Published on 18/09/2020 at 17:27

A parcela de 30% da Petrobras foi comprada por US$ 100 milhões pela PetroRio. O campo de petróleo Frade está localizado na Bacia de Campos

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The 30% Stake of Petrobras Was Purchased for US$ 100 Million. Frade Is Located in the Campos Basin, About 172 Km from the Polvo Field, Also Operated by PetroRio

The National Agency of Petroleum, Natural Gas and Biofuels (ANP) Approved the Transfer of 30% of Petrobras in the Frade Field to PetroRio, Which Will Hold 100% of the Asset Upon Completion of the Operation. Job Openings to Meet Petrobras Contracts in Macaé for Electricians and Technicians to Work Offshore at UO-Rio and for Engineers During Maintenance Shutdown at REFAP – RS

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PetroRio Has Already Submitted All Documentation Related to Abandonment Guarantee to ANP, a Condition for Final Approval of the Operation by the Agency. After This Last Approval, PetroRio Will Become the Operator of 100% of the Oil Field.

At the Time, PetroRio Acquired the 30% Stake of Petrobras for US$ 100 Million.

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The Frade Oil Field Is Located in the Campos Basin, About 172 Km from the Polvo Field, Also Operated by PetroRio, and Is Part of a Project to Integrate Production with Tubarão Martelo, Purchased from Dommo, Formerly OGX.

PetroRio Entered Frade in October 2018, by Acquiring the Stake of Frade Japan Petroleum Ltda, Which Held 18.26% Participation, 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 to Extend the Concession’s Lifespan Until 2041. The Project Includes Drilling Four Producing Wells and Three Injectors, but Has Been Delayed Due to the Crisis.

In Addition to Frade, PetroRio Operates the Polvo Oil Fields (100%) and Tubarão Martelo (80%, Recently Acquired from Dommo Energia), Both in the Campos Basin.

In the Exploration Phase, It Holds Interests in the Blocks: CE-M-175 (50%) in the Ceará Basin; FZA-M-254 (100%) and FZA-M-539 (100%) in the Amazonas River Mouth Basin.

The Company’s Main Strategy Is to Acquire Oil Producing Fields in the Region to Create a Private Operation Hub and Reduce Production Costs per Barrel.

PetroRio Is Close to Taking Over 100% of the Frade Oil Field in the Campos Basin

The 30% Stake of Petrobras Was Purchased for US$ 100 Million. Frade Is Located in the Campos Basin, About 172 Km from the Polvo Field, Also Operated by PetroRio

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PetroRio Is Close to Taking Over 100% of the Frade Oil Field in the Campos Basin

The 30% Stake of Petrobras Was Purchased for US$ 100 Million. Frade Is Located in the Campos Basin, About 172 Km from the Polvo Field, Also Operated by PetroRio

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Diagnostic test

Billions of barrels on the equatorial margin could lead Amapá to double its oil production in Brazil — the state wants to enter the route of companies in the Campos Basin, attract investments, and boost jobs and businesses in the oil and gas sector.

Without bricks, without cement, and without endless construction: the cardboard house that is assembled in modules and can be moved.

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