Petrorio will invest in the field of octopus

In 2019, Petrorio intends to revitalize and drill from four to 22 petroleum reservoirs mapped in the field of octopus, in the Campos basin. The company has 100% concession in the region. About US $60 million will be invested in the project, where the excavation will last two months.

For the planning to be carried out, Petrorio signed a new contract with the Chinese bank ICBC (Industrial and Commercial Bank of China) in the amount of US $60 million total funding for four years, there may be possibility of an additional parcel. FINEP (financier of studies and projects) will also invest R $90 million in 10 years to enable the revitalization of the Octopus field.

According to the company’s CEO, Nelson Queiroz Tanure, the proposal wants to extend the life of the field to up to 2030, in addition to reducing the cost per barrel of oil. In 2018, the region had the productivity of 8,626 bpd and in December it reached the mark of 10000 barrels per day.

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