Business
Petro-Victory Energy Corp announces Andorinha Field Operational Update
Petro-Victory Energy Corp announces Andorinha Field Operational Update Canada N...
About this update from Petro-victory Energy Corp Class A
[{"type":"text","content":"\n \n \n \n Petro-Victory Energy Corp announces Andorinha Field Operational Update\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n CALGARY, AB\n \n \n ,\n \n \n Oct. 20, 2022\n \n \n /CNW/ - Petro-Victory Energy Corp. (\"Petro-Victory\" or the \"Company\") (TSX-Venture Symbol: VRY) is pleased to provide an operational update on the Company's 100%-owned Andorinha Field in the Potiguar Basin, onshore\n \n Brazil\n \n .\n \n \n \n \n \n \n \n \n \n \n Operations and Facilities update\n \n \n \n \n \n Andorinha Field Facilities Expansion\n \n \n \n \n The Company has commenced work on the expansion of production facilities and oil storage capacity at the 100% operated Andorinha field with an expected completion during Q4 2022. The project has been undertaken to expand the capacity of the current facilities on the Andorinha field and to provide the Company with the necessary storage and water handling as production increases from the current and future planned drilling campaigns.\n \n \n Current facilities at Andorinha have oil storage capacity of\n \n 60m\n \n \n 3\n \n . Under the new project, storage capacity will triple to\n \n 180m\n \n \n 3\n \n .\n \n \n \n \n Andorinha Solar Project\n \n \n \n \n As announced on\n \n August 11, 2022\n \n , the Company entered into a contract with a local renewable energy infrastructure provider to install a solar array at its Andorinha oil field (the \"Andorinha Solar Project\" or the \"Project\"). Installation is now complete and the start of clean energy generation is expected within 2 weeks.\n \n \n Petro-Victory estimates that the Andorinha Solar Project will reduce Scope 2 emissions by approximately 60 tons of CO\n \n 2\n \n per year, lowering the carbon intensity of the Company's produced barrels of oil.\n \n \n The Project will eliminate electricity expenses, the major operating cost of the Andorinha field, increasing the netback (profit margin per barrel of oil) for the Company.\n \n \n \n Production & Drilling update\n \n \n \n \n Current Production\n \n \n \n The Andorinha ...