PetroRio, the largest independent oil and gas company in the country, recorded, in the first quarter of 2020, an increase of 15% in its production in the Polvo field, totaling 8,620 barrels / day of oil. The favorable performance against the fourth quarter of 2109 stems from the successful 2019/2020 drilling campaign.

The growth is more significant when the new POL-L well in Polvo comes into operation, announced on March 19 this year. At the time, the Company informed that production in the Field reached the mark of 11,000 per day, an increase of 40% in relation to the volumes registered at the beginning of the year.

In the Frade field, also located in the Campos Basin (RJ), oil production was stable in the first three months of the year compared to the same period in 2019.

These data refer to 70% of Campo de Frade, as PetroRio awaits the completion of the acquisition, in progress, of the remaining 30%.

As for the Manati natural gas operation in the Camamu Basin (BA), the company has an annual minimum consumption contract (take or pay) equivalent to 1,574 barrels of oil equivalent per day, which ensures predictability in cash generation from Field. In the first quarter, Manati production stood at 1,254 barrels / day. In all, PetroRio produced, on average, 23,437 barrels / day of oil and gas in the first quarter of this year.

The company emphasizes that it remains committed to maintaining the level of quality and efficiency in its operations and to using its experience in cost rationalization, always aiming to obtain the best results.