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Petro Rio S.A. Announces July 2020 Operational Data

Source: www.gulfoilandgas.com 8/10/2020, Location: South America

Petro Rio S.A., following best practices in corporate governance and transparency, informs its preliminary and non-audited Operational Data for the month of July.

Obs.:
(1) Frade figures account for a 70% stake in the field. The acquisition of the remaining 30% stake – announced on November 28, 2019 – will be integrated into the monthly report once the acquisition is concluded.

(2) The reduction in Manati’s production between March and May is due to less demand from the client (Petrobras). Manati enjoys an annual take-or-pay agreement equivalent to 1,574 boepd with its client, ensuring a more predictable cash flow.

(3) Polvo Field reported lower production figures in June and July due to a shutdown in the FPSO operated by BW Offshore, after cases of Covid-19 were identified onboard. Production was halted on June 26th and resumed on July 4th.

PetroRio works so that its suppliers are committed to the strict health and safety protocol adopted by the Company since March 2020, in addition to the measures already adopted by the service providers. Thus, PetroRio seeks to avoid new occurrences and, if necessary, to ensure a quick neutralization of events in order to avoid any interruption of its operations.

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