PRIO hits record production and predicts first oil in the Wahoo field by the first half of 2024

(PN) Independent operator PRIO ended the second quarter of the year with a record average production of 91,000 barrels of oil per day. One of the highlights in the period was the Frade Revitalization Plan, which consolidated the field’s daily production at almost 60,000 barrels per day with the completion of another producing well, ODP5 (F23P3), in early July, adding 8,000 barrels per day. barrels of oil to the company’s production.

During the second quarter, PRIO also consolidated efforts to stabilize the Albacora Leste operation, which started to produce approximately 23 thousand barrels (PRIO share) per day, with operational efficiency of 68.8%, greater than the first quarter of 2023 – 54.8%. However, there is an expectation of improvement in the asset’s operating efficiency ratio after the company finalizes corrective maintenance to stabilize the asset’s operating efficiency.

With operations back to normal, the Polvo and Tubarão Martelo cluster posted an average daily production 41% higher than that recorded in the previous quarter, thanks to the scheduled maintenance stoppage in March and the resumption of production at wells TBMT-4H and TBMT-8H in March and April. As a reflection, the operating efficiency of the cluster for the quarter was approximately 97%.

PRODUCTION IN WAHOO EXPECTED FOR 2024

PRIO also said that it remained focused on continuing the processes of the Wahoo project, in the Campos Basin, with the objective of meeting the production schedule of the asset’s first oil in the first half of 2024. PRIO’s president, Roberto Monteiro , said during a conference call with investors that Wahoo will be one of the oil company’s focuses in the coming months.

The Wahoo field is located approximately 35 km north of the Frade field (also operated by PRIO), with a water depth of 1,400 meters. As it did with the Tubarão Martelo and Polvo fields, PRIO plans to make a tie-back (interconnection) between the Frade and Wahoo fields – which will share the same production system.

According to the Wahoo development plan, presented by PRIO in May, the total investment in the field will exceed US$ 1 billion. The amount includes the drilling of six wells, four of which are producers and two are injectors, which will be connected to FPSO Valente (formerly called FPSO Frade).