antenahum, absolutely, bring down costs and improve operational-efficiency,
1Q15 results - Polvo field:
"In the first quarter, average operational efficiency reached 98.8%, reflecting an excellent improvement in Polvo’s operation: in 2014, this average was 93.3% and in 2013, 79.8%. Since PetroRio began to be the field’s operator in January 2014, production levels have become more stable and fewer interruptions are being registered. It is worth mentioning that Polvo's operational efficiency reached 100% in March 2015."
1Q15 results, Conference Call - Polvo field:
"This means that even in a challenging scenario, with Brent at this price level, the Company would still have achieved positive cash generation.
Worthy of note is that in the Polvo Field the manageable costs in March stood at around US$33 a barrel, also associated with lower G&A.
This pro-forma result, with a special mention for the Company’s operating costs and efficiency, strengthens its vocation for operating in mature fields. In line with this vocation, we wish to highlight once again the acquisition of 80% of the Bijupirá and Salema fields.
This transaction, closed in January 2015, included the acquisition of other assets, including the FPSO Fluminense.
It is important to emphasize that where the oil field operator is the owner of the FPSO, the impact is an important reduction in operating costs, which would be the cost of leasing that FPSO. This significant reduction in OPEX is even more important in such a challenging Brent scenario as the current one."
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