Prio S.A. (PRIO3)

Overview

Prio S.A., initially known as Petro Rio S.A., is a company deeply rooted in the energy sector with a primary focus on the exploration, development, and production of oil and natural gas properties. The company boasts a significant presence both in Brazil and on the international stage. Its journey began in 2009, marking its commitment towards harnessing energy resources efficiently and sustainably. The company’s strategic assets include the Polvo Field in the southern part of the Campos Basin, Rio de Janeiro, the Frade Field in the northern region of the same basin, and the Manati Field located in the Camumu Basin, along the coast of the State of Bahia. These fields represent Prio's commitment to exploiting oil and natural gas resources with an eye on environmental sustainability and energy efficiency. Prio S.A. operates from its headquarters in Rio de Janeiro, Brazil, and navigated a significant milestone in May 2023 when it transitioned from Petro Rio S.A. to its current identity, Prio S.A., reflecting its evolving brand and the broadening of its business strategies.

Products and Services

Prio S.A. offers a comprehensive suite of products and services designed to meet the diverse needs of the energy sector:

• Exploration and Production: Engages in the exploration, development, and production of oil and natural gas properties. Prio S.A. holds 100% interest in key fields such as the Polvo, Frade, and Manati, showcasing its ability to manage and operate major energy assets effectively.
• Oil and Gas Refining and Distribution: Beyond exploration and extraction, Prio S.A. is involved in the importation, exportation, refining, selling, and distribution of oil, natural gas, fuels, and oil by-products. This comprehensive engagement in the oil and gas supply chain underscores the company’s multiplicity and its commitment to energy provision.
• Electric Power: Reflecting a diversification in energy services, Prio S.A. extends its expertise into the generation, sales, and distribution of electric power. This service highlights the company’s capacity to meet broader energy needs and its embracing of sustainable and renewable energy alternatives.
• Partnerships and Investments: Prio S.A. does not limit its operations to direct energy generations and supply. It also engages in holding interests in other companies, indicating an investment strategy that seeks to foster partnerships and collaborations within the energy sector.