PetroRio announced, through an official communiqué, the Third stage of revitalization of the Octopus field. With a campaign that will require initial investments of US $20 million, the expectation of the company is That the perforations of up to four wells add between 3 and 6 million barrels of oil to the field reserves.
Earlier this year, PetroRio reported having signed a Contract to finance the campaign with the CIBC (Imperial Canadian Bank of Commerce), With US $60 million and currently closed a financing line With Citibank in the amount of US $48 million.
The Octopus field is located in the Campos Basin, Approximately 100km from the east coast of the city of Cabo Frio, in Rio de Janeiro. Its peak production was in the month of December, when it exceeded the house of the 10000 Barrels a day.
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