Industry Segment: Market Brief | Word Count: 101 Words

Petroreconcavo through its subsidiary, Potiguar E&P, plans to perform a field life extension program in Riacho da Forquilha, Rio Grande do Norte, Brazil, with capital approval expected this year. The project includes re-entry workover, pneumatic pump exchange, well tubing and flow line replacement to re-activate 100 wells at several fields in the cluster for the following two years. All the cluster's production goes to Upanema Battery and is then delivered to Guamare Natural Gas Processing Plant, owned by Petrobras.

Once the cluster reaches production of around 6,500 barrels per day, Petroreconcavo plans to proceed with drilling programs in 2022.