Chevron operates and holds a 51.74 percent interest in the Frade project, which contains an estimated 200 million to 300 million barrels of recoverable oil. Other partners in the project are the Brazilian national oil company, Petrobras, with 30 percent interest, and Frade Japan Petróleo Ltd., with 18.26 percent interest.
The field is situated in the Campos basin at a depth of about 3,700 feet (1,128 m) of water, approximately 230 miles (370 km) northeast of Rio de Janeiro.
Did you know?
A 500-meter safety zone around the FPSO must be respected for the protection of fishermen and the operations. This places a restriction on fishing and navigation around the said safety zone and is a legal requirement under the Brazilian Navy standards, NORMAN 07 and 08.
Frade is a subsea development with wells tied back to a floating production, storage and offloading (FPSO) vessel.
Production in the field started in 2009; crude is exported to world markets and natural gas production is provided for domestic use in Brazil.