Prio successfully revitalises an abandoned field in Brazil

RIO DE JANEIRO, July 19, 2023 – Prio has passed a production milestone at a new well in the once-abandoned Frade field offshore Brazil, the Brazilian E&P independent announced on Monday.

The ODP5 (F23P3) well began producing 8,000 bopd when it came on stream and has since surpassed the 100,000-bopd milestone.

The well was drilled one year ahead of schedule.

It is located next to the ODP4 well, the first producing well on the campaign.

The ODP5 well represents the first this next phase of Prio’s plan to create a production cluster from the Wahoo and Frade fields, which was approved by the government in December 2021.

The plan includes linking the Wahoo pre-salt field to the Frade field and linking four oil production wells and two water injection wells to the Valentine FPSO.

The FPSO currently handles production from the Frade field and has a processing capacity of 100,000 bopd.

With the new well, Prio has raised production from the Frade field to more than 60,000 bopd.

The plays are located within the Northern Campos Basin off the coast of Brazil.

With this move, Prio has boosted its overall production to more than 100,000 bopd from its combined assets on the Campos Basin including the Albacora Leste field and the Polvo-Tubarao Martelo shallow-water cluster.

Previously the Frade field lay dormant after an incident in 2011 when it was operated by US energy giant Chevron that caused a spill of almost 3,000 barrels of oil.

Prio was formerly known as PetroRio.

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