Back

Institutional

PRIO is present at Vitória PetroShow with a business round for the Wahoo project

26 Mar 2024 icone de compartilhamento

Executives participate in the conference on the offshore market and continue with investment initiatives in Espírito Santo to attract suppliers

 

Rio de Janeiro, March 25 – PRIO, the largest independent oil and gas company in Brazil, will be present at the Vitória PetroShow, an important event on the oil and gas business, for business roundtables with local suppliers and presentation of our projects, including the development of the Wahoo field, which already generates around R$ 800 million in investments in the regional supply chain.

On April 2, Tuesday, executives from the Procurement and Subsea areas will be in the business roundtable in search of suppliers to support the start of operations in the state. On April 3, Wednesday, Francilmar Fernandes, Chief Operations Officer at PRIO, will participate in the debate on “Paths for the future of offshore in Espírito Santo,” with representatives of other companies in the industry, moderated by Roberto Ardenghy, president of the Brazilian Institute of Oil and Gas (IBP).

PRIO intends to begin well drilling work in Wahoo field, in Campos Basin, shortly, as soon as the environmental license for the activity is issued by the Ibama. “We are treating each phase of this project with great relevance, which will mobilize hundreds of people and companies during its installation and is expected to contribute over R$ 450 million in royalties to the state and the Federal Government. This event will be an important milestone for us to share our projects and way of doing things. We are looking for partners with a focus on high performance and productivity. To this end, we continue with our supplier development strategy within the region, aiming to strengthen our project and the entire industry,” highlights Francilmar.

Wahoo will be the first field fully developed by the company, becoming economically feasible due to the innovative project of interconnecting a discovery to a already productive field, 35 km long. The wells of the Wahoo field will be connected to the FPSO Valente in the Frade field. With first oil scheduled for the third quarter of 2024, the project estimates a peak production production of 40 thousand barrels of oil per day and total cost of R$ 4 billion. The project is a good example of sustainability and productivity, as it will enable development with a major reduction in the volume of greenhouse gas emissions and with low production costs.