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Ibama Authorization Allows PRIO to Connect Wahoo Wells to FPSO Frade, Expanding Production and Consolidating Expansion in the Campos Basin
PRIO received the installation license from Ibama on Monday (15) to interconnect up to 11 wells in the Wahoo field, located in the Campos Basin. According to a statement confirmed in a relevant fact, the company expects to start oil production at the site between March and April 2026, with an expectation of up to 40,000 barrels per day.
According to information from Reuters, the project represents one of the company’s largest recent advancements, which aims to increase its total oil production by more than 44%, consolidating itself as the largest independent oil company in Brazil. PRIO is expected to invest approximately US$ 870 million in the development of the field.
Where the Wells Interconnection Will Take Place
The Ibama document details that the license covers the submarine interconnection (tieback) of up to 11 wells — four producers, two injectors, and five contingents — to the FPSO Frade platform vessel, already operated by PRIO.
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The two fields are located 30 km apart, both in the Campos Basin.
According to the environmental agency, the Wahoo field is situated in the geological context of the pre-salt, in a water depth ranging from 900 to 1,600 meters.
The production flow and the injection of fluids will be carried out through submarine pipelines, control umbilicals, and power lines, in addition to associated equipment, without the need to construct a new stationary unit.
How Much PRIO Is Expected to Produce with Wahoo
The estimate is that the Wahoo field will add 40,000 barrels per day to PRIO’s production, a figure representing a 44% increase compared to current volumes.
In the second quarter of 2025, the company produced approximately 100,000 barrels per day.
With the commencement of Wahoo operations and the acquisition of the Peregrino field, PRIO projects to exceed the mark of 200,000 barrels per day in 2026, consolidating its leadership position among independents and gaining even more relevance in the international market.
Why Wahoo Is Strategic for PRIO
The Wahoo project is considered strategic for three main reasons:
Utilization of the existing infrastructure of the FPSO Frade, reducing deployment costs.
Significant increase in production scale, enhancing the company’s competitiveness in the oil and gas sector.
Strengthening PRIO’s presence in the Campos Basin, a region that accounts for a significant portion of national production.
According to a report by Itaú BBA bank, the license from Ibama was eagerly awaited by the market, and its issuance reinforces confidence in the company’s expansion plan.
Investment and Next Steps
PRIO has already begun preparations for submarine works.
The vessel responsible for launching the rigid line has been contracted and is expected to arrive in Brazil in October.
The schedule anticipates the completion of the interconnections in 2026, when the first oil should be produced.
The total cost of developing the project is estimated at US$ 870 million.
For analysts, the investment reinforces the financial solidity of the company, which has been aggressively expanding in high-yield assets.
The license granted by Ibama marks a decisive step for PRIO’s expansion, which is preparing to nearly double its production by 2026 with the start of operations at Wahoo.
This measure consolidates the oil company as a key player in the oil and gas sector in Brazil.
And you? Do you believe that PRIO’s growth strategy can make it as relevant as the large state-owned companies in the future? Or does this accelerated pace increase risks for investors? Share your opinion in the comments — we want to hear from those closely following the market.
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