PRIO’s efficient oil production meets growing energy demand

Chemically, petroleum is a complex mixture of hydrocarbons containing small amounts of sulfur, nitrogen, oxygen, and trace metals (such as vanadium and nickel). The “recipe” varies from field to field and determines the color, density and yield of derivatives such as cooking gas (LPG), gasoline, aviation kerosene, diesel, naphtha, lubricants and asphalt. And these derivatives go well beyond the fuel tank. In addition to being essential to moving cars, planes and ships, they are found in cell phone and battery components, plastics, asphalt, cleaning products and medicines.

In this scenario of ever-increasing oil demand, the oil and gas sector has moved forward in the challenge of reconciling production and environmental preservation. One of the paths to sustainability is the revitalization of mature deposits, those which have already reached their peak production and which would see their activities closed by large operators in a few years. It is with the aim of increasing the useful life of fields and producing oil efficiently, safely and responsibly that PRIO was created, which, after ten years of existence, is already the largest independent oil and gas company in the country.

PRIO’s headquarters, in the southern zone of Rio de Janeiro, sums up the spirit of the company: disruptive, different, innovative, focused both on cutting-edge technology, valuing people and attention to the social, economic and cultural development of the surroundings of the six mature fields where it operates, in the Campos Basin.

— Oil is very present in our daily lives. It is found in almost everything we use every day: our toothbrushes, shampoo packaging, sports clothing, sunglasses, car tires and even medical items. It is also essential for our transportation and food, while enabling the operation of everything from planes to hospitals, and is also a driver of economic development. Even with the growth of renewable energy, demand for oil remains strong, largely driven by strong demand generated by developing countries. Importantly, industry is part of the climate solution by investing in carbon capture, efficiency and biofuel technologies. And our role is to produce responsibly, ensuring that each barrel extracted maximizes the value for society, in a safe and efficient way — said Chicão Bulhões, responsible for institutional relations at PRIO, in a conversation with students of the Journalism of the Future – O GLOBO 100 Anos course, whose company counts among its sponsors.

Bulhões is referring to international agreements that propose the replacement of fossil fuels with carbon-free energy by 2050, while the reality is still a growing demand for energy, especially electrical energy, which relies heavily on petroleum-derived fuels to operate installations. The executive cites studies that indicate that global energy demand in 2050 will increase by around 30% compared to 2021 and that the greatest demand will be precisely for electricity production. Brazil occupies a privileged position in relation to the energy matrix, compared to the world average. Of all the energy produced in the country, 49.1% comes from renewable sources, while globally this percentage is only 14%.

— At PRIO, what we do well is extract oil correctly, focusing on the tripod safety, sustainability and responsibility, following the standards and guidelines of Ibama and the National Agency for Petroleum, Natural Gas and Biofuels (ANP). Oil fields do not stop producing when oil runs out, but when they cease to be economically viable. This is where PRIO comes in. One of the factors helping to increase the efficiency of PRIO’s fields has been Brazil’s pioneering use of tie-in technology, which allows the underground connection of a field to an existing production unit in another field, thereby reducing the environmental impact caused by the installation of a new platform.

An example is the connection that connects the Polvo and Tubarão Martelo fields, 11 km long, and now the Wahoo connection, under development and which will be 30 km long, making it the largest in Brazil. PRIO also operates the Frade, Wahoo and Albacora Leste fields, in addition to owning 40% of the Peregrino cluster (of which the company depends on the necessary regulatory approvals to become operator).

The extension of the use of mature fields, with the exploration of new deposits from already installed structures, also allows the maintenance and generation of new permanent and temporary jobs, in addition to ensuring the collection of taxes and royalties, essential sources of resources for many municipalities. PRIO currently has a thousand direct employees and more than a thousand suppliers. Since the start of its activities, the company has paid more than 4 billion reais in royalties.

— In producing cities, this money finances public schools, hospitals, transport, the lives of people within this ecosystem. In the case of PRIO, we do it with great pride, because we know that what we generate here is reflected in people’s daily lives. We are very proud to contribute to the socio-economic development of the country and the regions where we are present — says Chicão Bulhões.

During a visit to PRIO, GLOBO course students talk about the challenges of the oil and gas sector

Technologies to revitalize mature oil fields, exploration of new fields, concern for sustainable production, valuing people, search for profit, investments, objectives and payment of bonuses were some of the themes of conversations between PRIO managers and students of the Journalism of the Future – O GLOBO 100 Anos course, during a visit to the company’s headquarters.

The 20 recently graduated journalists learned a little more about the company’s values ​​and day-to-day operations and also discussed challenges in the oil and gas sector, such as reducing carbon emissions and growing global demand for energy. In addition to Olívia Richardson, the manager of institutional relations, Chicão Bulhões, participated in the discussions; production development coordinator, Vanessa Arivabene; and Talent Management and Recruitment Coordinator, Luiza Martin.

— Our activity is naturally sustainable, because we do not create new impacts on the environment — explained Vanessa, who detailed the technologies used to reduce costs and increase production efficiency in oil fields that were at risk of being abandoned.

Responsible for talent management and recruitment, Luiza Martin emphasized that at PRIO decisions are quick and there is an openness to the exchange of ideas: — We are a company based on people. PRIO gives a lot of freedom and expects proactivity.

After breakfast and conversations, the students visited the roof of the company’s headquarters, in Praia de Botafogo, with breathtaking views of Guanabara Bay. PRIO is one of the sponsors of the GLOBO course, which is part of the newspaper’s centenary celebrations and aims to discuss career paths in the profession. At the end of the course, journalists will present digital projects that can range from multimedia reports, infographics and new products for social networks, with the possibility of being implemented by GLOBO.

More than 1,000 employees and more than 1,000 suppliers

Brazil’s largest independent oil and gas company 10 years of history

6 active mature fields in the Campos Basin

Between 2021 and 2024, carbon emissions have been reduced by 20%

Oil production increased from 6 thousand barrels per day in 2015 to 150 thousand in 2025

It has already extended the useful life of its fields by more than 70 years

In ten years of operation, it has generated more than 4 billion reais in royalties.

During this period, it sold more than 150 million barrels of oil worldwide.

Reduction in production cost per barrel from 44 US dollars in 2015 to 9 US dollars in 2024. Investment of more than 100 million reais in sports, cultural and educational projects.

Global energy demand: in 2050 it will increase by around 24% compared to 2024

It is the second most important item in Brazil’s trade balance.

Generates 1.6 million direct and indirect jobs

Paid R$2.6 trillion in taxes and royalties over the last 15 years

In Brazil, 49% of energy comes from renewable sources

Globally, the average is 14%.