HRT Sells First Crude Cargo from Polvo Field

HRT Participações em Petróleo S.A. last week concluded the first crude offtake of 233.3 thousand barrels (net HRT) under HRT O&G’s responsibility as the operator of the Polvo Field, in the Campos Basin, offshore Brazil.

Next HRT O&G’s crude oil sale will likely happen by no later than the first week of March, 2014, with an estimated volume of 400 thousand barrels. Additionally, HRT reports that the average oil and natural gas production in the Polvo Field, in January 2014, was 13.5 thousand barrels of oil equivalent per day (boed). The oil production, itself, reached an average of 11.2 thousand barrels/day (bpd) out of which 6.7 thousand barrels/day correspond to HRT’s part (60%). This first month of HRT’s operatorship, Polvo Field produced uninterruptedly, without record of incidents. Maersk Oil Brasil Ltda. is the partner of HRT in the Polvo Field, with a 40% participating interest.