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  1. Market Data
May 9, 2022

Polvo Heavy Oil Field, Brazil

By Carmen

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. The field is located in block BM-C-8 (Polvo), with water depth of 338 feet.

An expansion project is associated with the Polvo, namely 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 80.17% of its total recoverable reserves, with peak production in 2010. The peak production was approximately 19.5 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 13.97 Mmboe, comprised of 13.97 Mmbbl of crude oil & condensate. Polvo heavy oil field reserves accounts 0.03% of total remaining reserves of producing heavy oil fields globally.


Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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