Brazil's Prio gets license for Wahoo oil field's subsea pipelines
RIO DE JANEIRO, Sept 15 (Reuters) - Brazilian oil company Prio PRIO3.SA has received an installation license from Brazil's environmental agency Ibama to hook up wells at its Wahoo field to its offshore production platform, the company said in a securities filing on Monday.
The firm said it expects to begin oil production at the field between March and April next year and projects the development will cost around $870 million.
The license approval, first reported by Reuters, allows Prio to connect oil wells in the Wahoo field to its floating production, storage and offloading (FPSO) unit located in the Frade field, according to the company's filing.
Both fields are located in Campos Basin about 30 km (19 miles) apart.
An Ibama document seen by Reuters states the license allows the submarine interconnection, known as a "tieback", of up to 11 wells to Prio's FPSO unit, four of which are for production.
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