PRIO announced on March 3 that it has received the Operating License for Wahoo field, in Campos Basin, from Instituto Brasileiro do Meio Ambiente e dos Recursos Naturais Renováveis (Ibama) — the final regulatory step before first oil.
With commissioning in its final phase, production will take place via a subsea tieback to the FPSO at Frade Field, leveraging existing infrastructure and optimizing capex.
PRIO acquired a 35.7% stake in Wahoo from bp in 2020. The field is estimated to hold more than 140 million barrels of recoverable resources.
