Alvopetro invests US $ 15 million in Recôncavo

08/17/18

Amount will be applied in the development of the gas fields of Caburé and Gomo

Alvopetro announced that it will allocate US $ 1.8 million to the Caburé and Gomo fields later this year and around US $ 14 million in 2019. The company said it will focus on the development of these gas assets in the Recôncavo Basin, with volume of 2P reserves or 5.7 million barrels of oil equivalent.

Gas production in the Gomo field will be linked to Caburé by means of an 8 km transfer pipeline at the end of 2019. Alvopetro seeks financing for Gomo and is finalizing the contracts for the construction of the pipeline and the Gas Unit .

The gas sale under the agreement is 500,000 m³ / day, with a price of US $ 6.54 / MMbtu in February this year, which will be adjusted in August.

In the second quarter of this year, the company’s production was 33 barrels of oil per day, an increase of 57% over the first quarter of 2018.

Source: Brazil Energy

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