3R WILL MAKE ADJUSTMENTS TO THE PRODUCTION MEASUREMENT OF THE MACAU CLUSTER AND EXPECTS TO OPEN SEPARATION PLANTS IN 2022

The independent oil company 3R announced (13) that it reached the highest gross production measured in the fields of Macau, in the Potiguar basin (RN). In addition, the company also recorded the highest oil production measured by flow meters at its metering stations in such concessions. However, this increase in volume was not reflected in fiscal production, measured after the separation process carried out by Petrobras in Guamaré. In view of this situation, the two companies agreed to establish aligned procedures for calibrating the measurement system of all stations in Rio Grande do Norte connected to such a separation system.

According to 3R, oil production at the Macau cluster measured by its flow meters at the collecting stations was 6,590 barrels per day in August, 27% higher than the oil production measured in July. However, this increase was not reflected in fiscal production, which stood at 4,709 barrels per day

“This production increase is the result of 63 operations in existing wells, with 9 workovers using a rig (opening of new reservoirs in existing wells), 15 well reactivations with rigs and replacement of pumping equipment and 39 well reactivations with cranes, between June 1st and August 31st, 2021”, wrote 3R’s Chief Financial and Investor Relations Officer, Rodrigo Pizarro, in a statement to the market.

Given the difference between the measurement made in the fields of Macau and fiscal production after the separation process from Petrobras, the two companies will implement a calibration process for the measurement systems of all stations using the same parameters, as well as use the same specialized company to mitigate system uncertainties, which should be completed by the first week of October 2021.

The current oil-water separation system will continue to process 3R’s gross production until the independent oil company’s separation plants are completed and operational, which should take place in the second quarter of 2022. According to 3R, these new plants will allow the shipment of the oil production for Petrobras already specified according to regulatory parameters (fiscal measurement), so that the production values ​​measured by 3R will be used as a reference for the oil purchase and sale contracts agreed with the state-owned company.

“In addition, the separation plants play a fundamental role in the revitalization and redevelopment plans planned for the Macau cluster, as they will boost the secondary recovery of the reservoirs through the reinjection of water and the maintenance of their pressure, as well as enable the processing of the reservoir and additional gross production from the future drilling campaign planned for the Macau fields,” concluded Pizarro.

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