3R Petroleum intends to expand its operations in the revitalization of mature fields to other countries in Latin America. The information was provided by the company’s CEO, Ricardo Savini, during the company’s IPO ceremony at B3, which moved R$ 690 million, which will be used in the development of projects and in new acquisitions .
Savini pointed out that the operation also marks the merger with the assets of Ouro Preto Oil and Gas, which now operate under the umbrella of 3R Petroleum. Private equity manager Starboard Restructuring Partners, which is a partner of 3R Petroleum, bought the oil company from businessman Rodolfo Landim in February.
The portfolio, after the corporate reorganization, totals about 101 million barrels of oil equivalent in proven and probable and contingent reserves (2P + 2C), with contingent reserves (2C) being conditioned to the approval of the extension of the concession contracts by the ANP and the sale by Petrobras of the rights to the Pescada-Arabaiana, Fazenda Belém and Rio Ventura fields, so that they can be reclassified as (2P).
“We humbly want to be Petrobras’ successor in these mature fields that the company is divesting,” said the CEO of 3R Petroleum.
See the trajectory of 3R Petroleum:
1-On August 2019, it bought the Polo Macau in the Potiguar Basin for US $ 191.1 million from Petrobras, which includes the fields of Aratum, Macau, Serra, Salina Cristal, Lagoa Aroeira, Porto Carão and Sanhaçu
2-On July 9, 2020, it signed a contract to acquire Petrobras’ 65% stake in Polo Pescada-Arabaiana, in the offshore state of Rio Grande do Sul, becoming the operator of the fields
3-On August 2020, Petrobras agreed to purchase, for US $ 8.8 million, the Fazenda Belém and Icapuí fields, also in the Potiguar Basin
4-Also in August of this year, the company’s operations were expanded to Bahia with the acquisition, for US $ 94.2 million, of the fields of Água Grande, Bonsucesso, Fazenda Alto das Pedras, Pedrinhas, Pojuca, Rio Pojuca, Tapiranga and Tapiranga Norte , located in the municipalities of Catu, Mata de São João, Pojuca and São Sebastião do Passé
5-Company IPO moves R$ 690 million in B3
Divestment of Petrobras
3R Petroleum was born in the search for onshore projects with the divestment of Petrobras and currently has 19 production fields in Rio Grande do Norte and Bahia. The company plans to invest US $ 200 million over the life cycle of the Macau fields – a set of assets purchased from Petrobras in the Potiguar Basin, Rio Grande do Norte.
The current planning foresees the drilling of 46 wells, 31 workover services in existing wells and the construction of infrastructure for the separation and processing of oil and water injection. Savini explained, during an exclusive interview with epbr, that there is a five-year window for more intense investments in the fields.