PRIO – Approved to Drill at Frade

PRIO reported that it has received from Ibama an amended drilling license for the Frade Field. With this authorization, the company will be able to drill up to 14 new wells in the asset, located in the Campos Basin.

The operation is expected to be carried out using the offshore drilling unit Hunter Queen, capable of operating in deepwater environments and supporting both drilling and intervention campaigns. The unit was acquired by PRIO from Foresea in 2022. The field is currently operated by the FPSO Valente, which has a production capacity of up to 100,000 barrels per day. In the fourth quarter of 2025, Frade recorded an average production of approximately 31,500 barrels per day.

The unit is characterized as a 6th-generation semi-submersible drilling rig equipped with dynamic positioning, capable of operating in water depths of up to 3,000 meters and supporting complex offshore drilling campaigns. Built in 2011 in Singapore, it can accommodate around 180 personnel.

PRIO also stated that it will disclose the schedule for the new drilling activities in due course.