Located about 100km from the city of Cabo Frio (Rio de Janeiro/RJ), in the Campos Basin, Polvo was the first PetroRio production asset. In 2016, the company invested over 11 million dollars to increase the oil extraction of this field by using pioneering technologies in Brazil. The investment made it possible to extend the useful life of the Campo de Polvo, increasing its production even with the natural decline rate of oil fields.Know More
The Campo de Frade is located in deepwaters of Campos Basin, about 125km from the city of Cabo Frio and 172km from Campo de Polvo. It has been producing commercially since early 2009. PetroRio joined the concession in October of 2018 when it acquired Frade Japão Petróleo Ltda, which held a 18.26% stake in Frade, from INPEX and Sojitz and became the operator of the field in early 2019 when it acquired an additional 51.74% interest in the asset from Chevron. Today, Campo de Frade produces and processes nearly 20.000 barrels of oil per day. All producing wells have subsea completion and are connected via risers to Frade FPSO – owned and operated by the concessionaries – which has the capacity to process up to 100.000 barrels of fluid per day and can store up to 1.5 million barrels of oil. Based on PetroRio’s experience with Campo de Polvo, where the firm demonstrated its business model of rejuvenating mature oil fields, our objective in Frade is to increase proven resources by optimizing production, performing selected CAPEX projects and operating the field with a leaner OPEX, thus allowing its economic life to be significantly expanded.
Located in the Camamu-Almada Basin, 65km from Salvador, the Campo de Manati is one of the largest non-associated gas producers in Brazil, providing around 30% of the gas demand for the Northeast of the country and giving it a strategic role for the region’s development. After completing the purchase of Brasoil in 2016, PetroRio came to hold a 10% stake in the Manati consortium, operated by Petrobras. With our successful operational experience, PetroRio contributes to the consistent increase of efficiency, maintaining the lowest possible cost. The Manati project includes the large facilities: A fixed production platform, gas compression station and a natural gas treatment plant. All of it is connected by a 125km gas pipeline.
The most recent assets are in Foz do Amazonas, becoming part of the company’s portfolio in 2016. Block FZA-M-539 has an estimated potential reserve of 18 billion cubic meters of natural gas, with the possibility of expansion to 28 billion cubic meters. Block FZA-M-254 is currently being studied to evaluate its potential and well drilling schedule.