3R Petroleum Concludes Acquisition of Sanhacu Field

3R PETROLEUM ÓLEO E GÁS S.A. (“3R” or “Company”), in complement to the material fact disclosed on August 19, 2021, informs its investors and the market in general that has concluded on December 21, 2021, through its subsidiary 3R Macau S.A. (“3R Macau”), the acquisition of the 50% stake held by Petrogal Brasil S.A. (“Galp”) in the Sanhaçu field, located in the Potiguar Basin, in the State of Rio Grande do Norte, after the approvals from the National Agency of Petroleum, Natural Gas and Biofuels and the Administrative Council of Economic Defense.

The Sanhaçu field is part of the Macau Cluster, which has been operated by 3R Macau since May 2020. With the conclusion of the transaction, 3R Macau now has full concession rights of all fields that comprise the Macau Cluster: Lagoa Aroeira, Macau, Porto Carão, Salina Cristal and Sanhaçu. The total value of the transaction was US$6.0 million and does not consider any adjustments provided in the contract.

The field has 5.3 million barrels of oil equivalent (“boe”) classified as proved and probable reserves (2P) certified by DeGolyer and MacNaughton as of August 2020, of which 0.7 million barrels are oil and 4.6 million of boe are natural gas. The field’s daily average production reached approximately 954 boe in the first nine months of 2021, with 131,000 m³ of natural gas and 130 barrels of oil.