PetroRio faz investimento de 20 milhões de dólares no campo de Polvo

PetroRio Makes $20 Million Investment in Polvo Field

Written by Renato Oliveira

Published on 01/10/2019 at 16:43

PetroRio investe 20 milhões de dólares no campo de polvo

Seja o primeiro a reagir!

PetroRio’s Investment in the Asset Should Reach US$ 60 Million in Revitalization Projects for the Polvo Field in the Campos Basin

Monday (09/30) brought good news for the Brazilian offshore oil and gas sector. The national oil company PetroRio announced an investment of US$ 20 million in the Polvo field, located in the Campos Basin. Also See! Brazilian Oil Production Rises 36 Percent and Reaches 20.2 Thousand Barrels Per Day.

The amount will be invested in the third phase of revitalization of 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 needed for the asset’s volumes to increase to around 3 million to 6 million barrels of oil.

ARTICLE CONTINUES BELOW

Financing

To enable the investment, PetroRio secured a financing line with Citibank worth US$ 48 million, but the company’s estimate is that up to US$ 60 million will need to be invested in the new revitalization phase.

The oil company announced the new campaign for January of this year, when it declared it had reached an agreement with the Chinese bank CIBC for a loan of US$ 60 million.

The Polvo field peaked at a production of 10 thousand barrels per day in December of last year, but its annual average was 8,626 barrels per day of oil.
The Polvo Field is located in the Campos Basin, approximately 100 km off the east coast of Cabo Frio, State of Rio de Janeiro.

PetroRio Makes $20 Million Investment in Polvo Field

PetroRio’s Investment in the Asset Should Reach US$ 60 Million in Revitalization Projects for the Polvo Field in the Campos Basin

Financing

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.

In Botswana, a salt flat of up to 16,000 km² that was once an African megalake spends months as an absolute white desert, but during the rainy season it transforms into a shallow sea that reappears from nowhere and can be seen from space in the middle of southern Africa.

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.

Bavarian archaeologists unearthed a medieval skeleton that had an articulated iron hand in place of its left arm, and the discovery reveals that doctors were already creating sophisticated prosthetics over 500 years ago.

The CEO of Honor in Spain says that smartphones will change with AI, foldables, and even robot phones; the component crisis is making cheap models more expensive in 2026 and shifting the focus to premium.

NASA announces the first interplanetary nuclear spacecraft in history destined for Mars and technology created to usher in a new era in deep space exploration: meet the SR-1 Freedom, equipped with a fission reactor and three helicopters inspired by Ingenuity to map Martian ice.

With 93 companies selling armored vehicles, aircraft, and monitoring systems to 148 countries, Brazil’s defense industry is doubling exports and is on track to break all records in 2026.

Brazil and Sweden finalize a military agreement to jointly train pilots, share experiences with the Gripen fighter, and allow Swedish crews of the KC-390 to train on Brazilian soil over the next two years.

Scientists warn that Earth’s oxygen has an expiration date and that the Sun itself will be responsible for ending the air we breathe by making photosynthesis impossible in about one billion years.

Science reveals that the error in the expansion of the cosmos is not a measurement flaw, but rather a sign that the universe may be hiding new physics capable of changing everything we know.

PetroRio Makes $20 Million Investment in Polvo Field

PetroRio’s Investment in the Asset Should Reach US$ 60 Million in Revitalization Projects for the Polvo Field in the Campos Basin

Financing

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.

In Botswana, a salt flat of up to 16,000 km² that was once an African megalake spends months as an absolute white desert, but during the rainy season it transforms into a shallow sea that reappears from nowhere and can be seen from space in the middle of southern Africa.

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.

Bavarian archaeologists unearthed a medieval skeleton that had an articulated iron hand in place of its left arm, and the discovery reveals that doctors were already creating sophisticated prosthetics over 500 years ago.

The CEO of Honor in Spain says that smartphones will change with AI, foldables, and even robot phones; the component crisis is making cheap models more expensive in 2026 and shifting the focus to premium.

Scientists discover unexpected climate benefit hidden in forest soils related to atmospheric methane absorption.

Sandy unproductive land can become a highly profitable area with a simple technique that boosts soybeans and corn to over 100 sacks.

The new Kia hatch will have a range of up to 480 km, may cost up to 25,000 euros (around R$ 150,000), and promises to become one of the most affordable electric cars in Europe; meet the Kia Picanto Electric.

Viih Tube, former BBB contestant and millionaire, lives in a mansion worth R$ 8.5 million with a heated artificial lake, two cinemas, a complete spa, and a giant playroom of 120 m² for the couple’s children.

Labor shortages in the construction industry in the United States surge, and 499,000 workers need to be urgently hired to fill open positions and support ongoing large-scale projects.

NASA announces the first interplanetary nuclear spacecraft in history destined for Mars and technology created to usher in a new era in deep space exploration: meet the SR-1 Freedom, equipped with a fission reactor and three helicopters inspired by Ingenuity to map Martian ice.

With 93 companies selling armored vehicles, aircraft, and monitoring systems to 148 countries, Brazil’s defense industry is doubling exports and is on track to break all records in 2026.

Brazil and Sweden finalize a military agreement to jointly train pilots, share experiences with the Gripen fighter, and allow Swedish crews of the KC-390 to train on Brazilian soil over the next two years.

Scientists warn that Earth’s oxygen has an expiration date and that the Sun itself will be responsible for ending the air we breathe by making photosynthesis impossible in about one billion years.

Science reveals that the error in the expansion of the cosmos is not a measurement flaw, but rather a sign that the universe may be hiding new physics capable of changing everything we know.