Located about 100km from the city of Cabo Frio (Rio de Janeiro/RJ), in the Campos Basin, Polvo was the first PetroRio production asset. In 2016, the company invested over 11 million dollars to increase the oil extraction of this field by using pioneering technologies in Brazil. The investment made it possible to extend the useful life of the Polvo field, increasing its production even with the natural decline rate of oil fields.
Innovative operational strategies are the core of the successes achieved in Polvo
The Polvo Field produces over 9 thousand barrels per day through a fixed platform and a FPSO. The wells are operated from the fixed platform which then transfer the product through a pipeline to the FPSO (floating production storage and offloading unit for oil and gas). The FPSO has the capacity to process an average of 100 thousand barrels per day and store up to 1 million barrels.
In January 2014, PetroRio took over management of the Polvo Field. Since then, the operational improvement measures taken by the company have made this field one of the most efficient in Brazil, with increasing results, greater stability in the production rate and reduction in the natural decline of oil extraction. In less than two years, the operational costs of the Polvo Field fell by half.
Our objective is to expand the resources of Polvo by evaluating new drilling opportunities in the field. Our goal is to solidify PetroRio´s leading position as the largest independent oil and gas company in Brazil.