Prio Says Goodbye to FPSO POLVO

25 January 2022 

PRIO, Brazil's largest independent oil company, this week completed the process of disconnecting the FPSO Polvo from the Polvo-Tubarão Martelo Field, in the Campos Basin, where it had operated since 2007. The demobilization of the Polvo FPSO was made possible by the successful interconnection of the Polvo A platform with the Bravo FPSO, known as tieback, completed on July 14, 2021. With the project to connect the Polvo + TBMT fields, PRIO became the first independent company to create a private production cluster of mature fields in the Campos Basin region. 

Dubbed Project Phoenix, the strategy was designed to revive two camps that were in the final stages of economic life, about to be abandoned, and that can now generate positive results for the whole society. "The success of the tieback between Polvo and TBMT demonstrates the great execution capacity and punctuality of the company's operational project teams, which are able to safely implement future projects, such as the Frade and Wahoo interconnection project, following the culture of operational optimization of the company's assets," says the company's Chief Operating Officer, Francilmar Fernandes. 

The FPSO Bravo, built and delivered to the TBMT Field in 2013, will operate in the field with high operational reliability, processing capacity, power generation and oil storage, functionalities that, with the tieback, are being shared with the Polvo Field. The FPSO Polvo heads to Oman on the Arabian Peninsula. Resource optimization and lifespan extension The interconnection project between the Polvo-A Platform and the Bravo FPSO will enable a reduction of operating costs ("OPEX") in the order of US$ 50 million per year for PRIO, corresponding to the leasing value of the FPSO Polvo and expenses with maintenance and diesel. 

In addition to enabling a better use of the gas produced for power generation, thus helping to reduce greenhouse gas emissions in the cluster. The reduction of the absolute costs of the new cluster will allow more oil to be recovered in the reservoirs, over a longer period, considerably increasing the recovery factor of the fields, extending their useful life by more than 10 years. "This is an important milestone for PRIO, as it provides a transformation in the reality of these fields, bringing great operational improvement, lower environmental impact and significant cost reduction," adds Fernandes.

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