Rio de Janeiro, June 08, 2021 - Petro Rio S,A, ("Company" or "PetroRio") (B3: PRIO3), following best practices in corporate governance and transparency, informs its preliminary and non-audited Operational Data for the month of May.
Daily Production (boepd)
Oil Offtakes (bbl)
Frade figures account for a 70% interest in the Frade Field until February 4 and 100% interest as of February 5, when the Company announced the closing of the acquisition of the remaining 30% interest.
Since February, Tubarão Martelo Field's production had a decrease of 1.4 kbbld due to a shutdown in the TBMT-8H well, as a result of a failure in the electric submersible pump (ESP), which operated since the beginning of the field's production. The Kingmaker rig was deployed to carry out a workover at the pump, expected to be concluded in mid- June.
On November 5, 2020, the sale of the 10% interest in the Manati Field held by PetroRio was announced, which awaits precedent conditions for the transaction's closing.
Polvo Field's production in May was restricted for 15 days due to water processing limitations at the Polvo FPSO. This FPSO, leased to the field and operated by BW, is expected to be decommissioned in July, after the conclusion of Polvo and Tubarão Martelo tieback.
Frade Field's production in May was impacted by a planned maintenance shutdown at the Frade FPSO, concluded on May 7th.
PetroRio is the largest independent oil and gas Company in Brazil. The Company seeks to increase production through the acquisition
of new producing assets, redevelopment, increased operational efficiency and rationalization of operating costs and corporate
expenses. PetroRio's main objective is to create value for its shareholders with growing financial discipline and preserving its liquidity,
with full respect for safety and the environment. For further information, please visit the Company's website: www.petroriosa.com.br.