Prio S.A. (PRIO3.SA)

Company Description

Prio S.A., together with its subsidiaries, engages in the exploration, development, and production of oil and natural gas properties in Brazil and internationally. The company holds 100% interest in the Polvo Field covering an area of approximately 134 square kilometers located in the southern portion of the Campos Basin, Rio de Janeiro; and the Frade Field that consists of approximately 154 square kilometers located in the northern region of the Campos Basin, Rio de Janeiro. It also holds interest in the Albacora leste Field and the Wahoo and Itaipu Field located in the Camumu Basin, State of Bahia. In addition, the company imports, exports, refines, sells, and distributes oil, natural gas, fuels, and oil by-products; and engages in the generation, sale, and distribution of electric power, as well as holds interests in other companies. The company was formerly known as Petro Rio S.A. and changed its name to Prio S.A. in May 2023. Prio S.A. was incorporated in 2009 and is headquartered in Rio de Janeiro, Brazil.