PETRORIO NEW WELL AT POLVO PRODUCING

08/01/18

Proved developed reserve of the field can grow 3 million barrels

PetroRio started the production of the second well in the Polvo field, an area where it operates in the Campos basin. POL-Z drilling began in June of this year and is part of the revitalization plan for the Polvo field, which provides for the drilling of one more well, the POL-M, by the end of September.

The drilling confirmed reservoir with net pay of 20 m, average porosity of 22% and density of 19º API. The initial flow rate was 2,000 barrels / day, taking into account the stabilization of the reservoir pressure.

The two wells already drilled (POL-Z and POL-H) took about 60 days from drilling to the beginning of production, since the second phase of the campaign began in April. PetroRio says that the production of these two wells should increase the production of the field by approximately 50%.

The company estimates that the volume of recoverable oil that will go from proven reserves not developed to proven developed will be 3 million barrels, but still requires independent evaluation.

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