Polvo is a producing heavy oil field located in shallow water in Brazil and is operated by Petro Rio O&G Exploracao e Producao de Petroleo. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, the field is located in block BM-C-8 (Polvo), with water depth of 397 feet. Buy the profile here.
An expansion project is associated with the Polvo, namely the Polvo Phase 3 . This project is currently in the feasibility stage.
Field participation details
The field is owned by PetroRio.
Production from Polvo
The Polvo heavy oil field recovered 84.65% of its total recoverable reserves, with peak production in 2010. The peak production was approximately 19.50 thousand bpd of crude oil and condensate. Based on economic assumptions, production will continue until the field reaches its economic limit in 2028.
Remaining recoverable reserves
The field is expected to recover 10.68 Mmboe, comprised of 10.68 Mmbbl of crude oil & condensate. Polvo heavy oil field reserves accounts 0.02% of total remaining reserves of producing heavy oil fields globally.
For more details on the Polvo Heavy Oil Field, buy the profile here.