Brazil's Prio gets preliminary license for Wahoo oil project

Brazilian environmental regulator Ibama gave local oil company Prio PRIO3 a preliminary license for its key Wahoo oil field project, according to a securities filing on Friday.

Prio said the license is for the Wahoo Field Production Development System and the interconnection of the wells to Frade's floating production platform (FPSO).

Prio will continue the process to get the installation license, which is necessary to start the subsea construction and interconnection of the field to Frade's FPSO, it added.