Brazilian independent Prio is participating in a bidding process to potentially increase its stake in the Wahoo pre-salt oilfield, as it seeks to start output from the Campos basin development in early 2024.

An Indian joint venture that partners Prio in the project opted out of the development proposed by the Brazilian company after one of the Indian players encountered financial difficulties, prompting Prio to seek to boost its share of the field.

The Wahoo field is estimated to hold 126 million barrels of oil in proven reserves.