Brazilian oil and gas company PetroRio has started production from a well located in a field within the Northern Campos Basin off the coast of Brazil.
Following the creation of its first cluster, which came into being after the tie-back between the Polvo and Tubarão Martelo fields was done in July 2021, PetroRio disclosed plans to create a second production cluster through the tie-back between the Wahoo and Frade fields.
To turn these plans into reality, the firm submitted a development plan to the National Petroleum Agency, Natural Gas and Biofuels (ANP) in December 2021.
Back in April 2022, the company confirmed the receipt of the operating licence , issued by the Brazilian Institute of the Environment and Renewable Natural Resources (Ibama), for the drilling of new wells on the Frade field.
At the time, the Brazilian player also revealed that Ocyan’s semi-submersible Norbe VI rig – hired in July 2021 for the Frade field revitalisation campaign and the Wahoo field development – was mobilised to start the revitalisation campaign.
In an update on Thursday, PetroRio informed that it had started production at the ODP4 well in the Frade field, as part of the field’s revitalisation campaign, adding that it would provide more information in a few days, as soon as production stabilises.
The Frade field is a subsea development with wells tied back to a floating production, storage and offloading (FPSO) vessel and PetroRio owns 100 per cent interest in the field, following deals with Petrobras and Chevron in January 2021 and March 2019, respectively.
When it comes to PetroRio’s other recent activities in Brazil, it is worth noting that the firm confirmed in April 2022 the signing of a Purchase and Sale Agreement for the Albacora Leste concession with Petrobras.
The sale is valued at up to $2.2 billion and a new consortium is expected to be formed by PetroRio, as the new operator of the field with a 90 per cent stake, and Repsol Sinopec Brasil, with a 10 per cent stake.