Petro Rio (PRIO) has announced the start of production at the 7-FR-61HP-RJS (N5P2) well, in the Frade field, Campos Basin, offshore Brazil, with stabilised initial production of approx. 11,000 barrels of oil per day, above original projections. Thus, the field has reached 50,000 barrels per day and PRIO has reached the milestone of 90,000 barrels per day of production.
The N5P2 well, the fourth producing well of the Frade Revitalisation Plan, was executed in a shorter timeframe than initial projections and almost one year ahead of initial planning, with a total cost of $55 million for its construction and subsea connection.
PRIO will keep the market informed of new developments in Frade's Revitalisation Plan.
