To date, Alvopetro’s production accounts for roughly 13 percent of the natural gas produced in Bahia, and with investments already made in its gas production infrastructure and pipelines, any new natural gas discoveries moving forward can be quickly converted into production and cashflow, the executive stressed.
“Our goal is basically to take the production level that we had in the third quarter and increase that by about another 50 percent. And that would take us up to the current capacity of our plant, or about 3,000 barrels of oil equivalent per day. And then our medium- to longer-term goal would be to double that again,” Ruttan explained.
Watch the full interview with Alvopetro Energy President and CEO Corey Ruttan above.
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