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Petro-Victory Energy Corp announces ESG initiative and signs contract to build Solar Project at the Andorinha Oil Field
Petro-Victory Energy Corp announces ESG initiative and signs contract to build Solar Proj...
About this update from Petro-victory Energy Corp Class A
[{"type":"text","content":"\n \n \n \n Petro-Victory Energy Corp announces ESG initiative and signs contract to build Solar Project at the Andorinha Oil Field\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 April 11, 2022\n \n \n /CNW/ - Petro-Victory Energy Corp. (\"Petro-Victory\" or the \"Company\") (TSXV: VRY) is pleased to announce the signing of a contract for the provision of solar power facilities at its Andorinha oil field, onshore Potiguar Basin.\n \n \n \n \n \n \n \n \n \n Highlights\n \n \n \n The Company has signed a contract with local renewable energy provider Taldi Engenharia for the installation of a solar array at its Andorinha oil field;\n \n \n The Andorinha Solar Project will reduce the Company's Scope 2 emissions by an estimated 60 tons of CO\n \n 2\n \n per year;\n \n \n The capacity of the project is 0.3MWp producing on average 40MWh/month;\n \n \n The Andorinha Solar Project has been sized to provide all the electrical requirements of the Andorinha oil field through the next phase of development and can be upsized further for future development phases;\n \n \n Operational within 4 months and with a total contract cost of\n \n US$270,000\n \n , the Company expects payback on invested capital within 3 years.\n \n \n \n \n Andorinha Solar Project\n \n \n \n The Company has 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\"). A suitable area of\n \n 2,200m\n \n \n 2\n \n (0.54 acres) at the field has been identified and inspected.\n \n \n As the Company increases oil production from the Andorinha field, through its multi-well 2022 drilling program, this innovative solution will continue to ensure that the Company minimizes its carbon footprint from operations. The Company has estimated 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 its produced barrels.\n \n \n Furthermo...