Frade completes five years and corresponds for more than half of PRIO’s production

(PN) PRIO, one of the largest independent oil and gas companies in Brazil, is celebrating the production results of Campo de Frade, located in the Campos Basin (RJ), which is completing its fifth year of activities with the company. The field was acquired in March 2019. At the end of 2023, PRIO completed the second phase of the revitalization campaign, reaching a peak production of 55.3 thousand barrels per day. Over the course of the year, it produced more than 17 million barrels, representing more than 70% of the company’s total. During the revitalization, new wells were implemented, in addition to improvements in reservoir management, optimization in the installation of subsea equipment, efficient construction operations and reformulation of the water injection system.

The company says that as a result, the asset had a historic record of 98.8% operational efficiency, recorded in the last quarter. Furthermore, PRIO increased production in the operation by more than 250% and reduced carbon dioxide (CO²) emissions by 70%. Making a comparison, the results report for the 4th quarter of 2023, released by the company recently, showed an increase of 72% compared to the same period of the previous year, and a total increase of 117% in the volume produced compared to the previous year. of the year 2022.

Francilmar Fernandes, the company’s Operations Director, reveals that “PRIO has already increased the useful life expectancy of this field by more than 16 years, reinforcing our pillar of non-conformity. We managed to exceed our initial expectations in Frade, and today it is a great source of pride to celebrate these 5 years of great dedication. All the know-how we have acquired over this time is being applied to our most recent assets, bringing increasingly better results, focused on innovation, sustainability, safety and efficiency.” The Frade Field is responsible for more than half of PRIO’s production, and in 2024 it will be connected by 35km of tieback with the new Wahoo field, with an estimated potential of 40 thousand barrels per day. With the data collected during the execution of the second phase, the company is preparing for a third phase of the asset revitalization campaign.