PRIO enters the pre-salt, with acquisition of the Wahoo and Itaipu fields
PRIO announced the acquisition of 35.7% of the Wahoo field and 60% of the Itaipu field, thus becoming, subject to the necessary approvals, the operator of both fields, marking the Company’s entry into the pre-salt.
The purchase was made from BP Energy do Brasil.
Wahoo, with the potential to produce over 140 million barrels (100% of the field), with oil discovery in 2008, and formation test conducted in 2010, fits perfectly with PRIO’s value generation strategy.
With the development of the field, the Company will form another production cluster, and will share the entire infrastructure with the Frade Field (including the FPSO), thus enabling the capture of several synergies resulting in another strong and sustainable reduction in lifting costs, always maintaining the highest standards of safety and efficiency.
Wahoo is located 30-35 km north of Frade, with a water depth of 1,400 m, and has a carbonate reservoir in the pre-salt layer at a depth of 5-7,000 meters.
The oil in the field is of excellent quality, with 30º API, low viscosity, and associated gas that will be used in the energy generation of the Frade FPSO.
Itaipu, discovered in 2009 with 3 pilot wells drilled, lies close to the Parque das Baleias cluster, and preliminary studies conducted indicate that the accumulation is potentially shared with the southeast region of the cluster.
Thus, the development of this area may go through a unitization process, prior to any development definition.