Coronavirus: PetroRio postpones all investments

According to a statement released last Wednesday night (18), PetroRio revised its business plan and decided to postpone all investments due to the current global scenario of coronavirus dissemination. The company will also adopt actions to reduce spending and monitor and prevent COVID-19.

The review of plans involves a postponement of plans to revitalize the Polvo field, located in the Campos Basin, in which the company had been making contributions to extend its useful life and increase production. "Within the capex (investments) delaying strategy, the company informs that it has demobilized the 3rd Phase of Octopus Revitalization, and will disclose the results of the campaign in the coming days," the company said.

"PetroRio will continue to maintain the level of quality and efficiency in its operations and use its experience in cost rationalization to minimize the impacts of this new scenario," he added.

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