PetroRio recorded a 36% increase in its total oil and gas production in the second quarter of this year. Extracted volume increased from 14,953 barrels / day of oil equivalent from January to March to 20,272 barrels / day from April to June, according to company operating data released on Monday (8). This total corresponds to the production of the Frade, Polvo and Manati fields.
In relation to the volume sold in the second quarter, PetroRio’s trading department succeeded in a record sales of more than 2 million barrels. The result of the new level of production with the incorporation from the acquisition of the Frade field. “The volume should generate a positive impact on the Company’s results,” said the oil company.
In the case of Frade, since March, when it assumed the operation of the asset, the company plans short-term measures to increase the production of the asset, which will be phased over the next few months. In the medium and long term, according to PetroRio, “the main measure to increase production studied is the realization of a Drilling Campaign in 2020.”
In the Polvo field, the company is mobilized to start a new drilling campaign in the second half of this year.
Source: TN Petroleo