Brazilian independent Prio is in advanced talks with two companies to contract the subsea solution for the joint development of its Frade field and Wahoo pre-salt accumulation in the deep waters of the Campos basin offshore Brazil.

Prio, formerly known as PetroRio, is seeking a contractor to carry out the subsea workscope of the Wahoo-Frade tie-back, with sources pointing out the award could be worth between $250 million and $500 million.