About PetroRio

Polvo: our first production asset

The Polvo Field currently produces about 8,000 barrels per day and has two units offshore: a fixed platform, known as Polvo A, and the FPSO Polvo. The injectors and producers‘ wells are operated from the Polvo A fixed platform and the production is pumped out through an export line to FPSO Polvo, where the produced oil is processed and stored.

FPSO Polvo has the capacity to process an average of 100 thousand barrels of fluid per day and the ability to store up to 1.0 million barrels.

Since PetroRio became the operator of the Polvo Field, operational efficiency has shown a steady improvement and currently is one of the best in Brazil. As a result, the Company gets a greater stability coupled with the decrease of the production curve‘s decline rate, resulting from a meticulous work of reservoir management.

Pioneer investments in Polvo‘s redevelopment.

PetroRio will invest approximately US$11 million over the first quarter of 2016 in the Polvo Field‘s redevelopment, from well interventions, using some pioneering technologies in Brazil. Thus, it will begin the implementation of the plan to increase the Field‘s shelf life, through the development of proved undeveloped reserves with a consequent increase of its production curve.

Resources and Reserves

The Company believes in the oil and gas industry and invests in building a solid platform for growth, confirming its presence among the largest and most important independent companies in Brazil.

Field Block Basin Working Interest (WI) 1P - Developed 1P - Undeveloped 1P - Total Probable Possible Total
Polvo BM-C-8 Campos (100% PetroRio) 8,315 4,315 12,680 6,805 5,529 25,014
(1) D&M: Appraisal Report - December 31, 2014 - Reserves of the Polvo Field.
(2) In thousands of barrels (Mbbl).

23/03/2016 - Degolyer & MacNaughton: Evaluation Report Certification (March 23, 2016)

29/03/2017 - Degolyer & MacNaughton: Evaluation Report Certification (March 29, 2017)