By Brazil Stock Guide – PRIO S.A. (B3: PRIO3) reported average production of 89,584 barrels of oil equivalent per day (boepd) in October, slightly down from 91,269 boepd in September. Oil sales reached 1.12 million barrels, around 60% lower month-on-month, reflecting temporary shutdowns at key fields.
The company said production at the Frade field was affected by a brief halt on October 26 following a false activation of its fire and gas detection system. At Albacora Leste, output was constrained by a gas compression failure pending delivery of imported replacement parts.
Meanwhile, production at Peregrino (40% stake) rebounded strongly after the lifting of the FPSO Peregrino interdiction by Brazil’s oil regulator ANP on October 17, allowing the field to exceed 100,000 barrels per day.
PRIO expects a production recovery in November as Frade and Albacora return to full operation. The monthly report contains unaudited preliminary data.