SAO PAULO (Reuters) – Oil company Petro Rio reported on Wednesday that it has completed the interconnection between the Polvo and Tubarão Martelo fields, in a move that creates a cluster for the production of mature fields in the Campos Basin and should represent a savings of $50 million per year for the company.
According to the company, the reduction in operating costs corresponds to the leasing value of the FPSO Polvo platform, currently chartered to the field, and expenses with maintenance and diesel. The project, which lasted 11 months and cost 45 million dollars, interconnects the Polvo-A platform and the FPSO Bravo.
The total cost of operating the cluster, which was at around $120 million per year, will be reduced to approximately $70 million per year, the company said in a material fact.
“The reduction in the absolute costs of the new cluster will allow more oil to be recovered from the reservoirs, for a longer period, considerably increasing the recovery factor of the fields”, added Petro Rio.
The oil company also informed that, as of this date, it will have the right to 95% of the oil from the Polvo + Tubarão Martelo hub up to the first 30 million barrels of oil produced, and 96% after 30 million barrels, as well as being responsible for 100% of the costs of Opex, Capex and abandonment of fields.
(By Gabriel Araujo)
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