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Petrobras' 30% share 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 at the conclusion of the operation. Job vacancies to attend Petrobras contracts in Macaé for Electricians and Technicians to work offshore at UO-Rio and for Engineers on maintenance stop REFAP – RS
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PetroRio has already submitted to the ANP all the documentation referring to the guarantee of abandonment, conditional on the final approval of the operation by the Agency. After this last endorsement, PetroRio will become the operator of 100% of the oil field.
At the time, PetroRio acquired Petrobras' 30% stake 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 which is part of a production integration project with Tubarão Martelo, purchased from Dommo, formerly OGX.
PetroRio entered Frade in October 2018, with the purchase of the stake of Frade Japan Petroleum Ltda, which held an 18,26% stake, and became the operator in January 2019, when the company became the operator by purchasing the 51,74% share of Chevron in Friar.
The oil company is also preparing a Revitalization Plan for the asset, in order to extend the useful life of the concession until 2041. The project envisages the drilling of four wells producing three injectors, but was postponed due to the crisis.
In addition to Frade, PetroRio operates the Polvo (100%) and Tubarão Martelo (80%, recently acquired from Dommo Energia) oil fields, both in the Campos Basin.
In the exploration phase, it holds stakes in the blocks: CE-M-175 (50%), in the Ceará Basin; FZA-M-254 (100%) and FZA-M-539 (100%) in the Foz do Amazonas Basin.
The company's main strategy is the acquisition of oil producing fields in the region, to create a private operation hub and reduce production costs per barrel,
