3R PETROLEUM ÓLEO E GÁS S.A. (“3R” or “Company”), following best practices in corporate governance and transparency, informs its investors and the market in general the preliminary unaudited production data for October 2022 in the assets that the Company holds participation.
(1) Refers to the 35% Interest held by 3R in Pescada Cluster concessions.
(2) Approximately 60% of the gas produced at the Recôncavo Cluster is reinjected into the reservoirs of its fields.
(3) Refers to the Interest held by 3R in Peroá Cluster concessions, considering 70% in August and 85% from September 2022.
The Company is the operator of Macau, Areia Branca, Fazenda Belém, Rio Ventura, Recôncavo and Peroá Clusters and holds a 35% stake in Pescada Cluster, the latter operated by Petrobras. The consolidated average daily production of the seven clusters mentioned above totaled 15,294 barrels of oil equivalent (boe) in October 2022. Of this total, the portion referring to 3R’s stake reached an average daily production of 14,262 boe.
Regarding the operational performance of October 2022, the Company highlights that:
Potiguar Complex: the production at Macau Cluster in October was below the maximum production capacity of the asset, which was impacted by: (i) apportionment factor (this factor remains affecting the tax production at Macau Cluster. In early October, 3R completed the tests of the main oil-water separation plant (Macau-A), which processes 60% of the Cluster’s production, and only awaits the final approval of the ANP for the start of the fiscal measurement); (ii) tests and commissioning of the second oil-water separation plant (CN-B), that briefly reduces the processing capacity of 40% of Cluster’s production, and remains affected by the mentioned apportionment factor; and (iii) outflow reduction and temporary closure of some wells for partial replacement of the drain pipe that directs the production of CN-B to the Industrial Asset of Guamaré (in Potiguar Cluster). This activity is being carried out preventively by 3R and aims to raise operational safety and support the increase in production at Macau Cluster, predicted for 2023. The Company estimates that the first two impacts will be fully mitigated by January 2023, while the third will be solved in April 2023.
Recôncavo Complex: the production of Rio Ventura Cluster remains in constant evolution, reflecting the good result of revitalization activities in the oil and gas production in the asset, even before starting the drilling campaign. At the Recôncavo Cluster, oil production in this month does not represent the full asset’s production capacity (1,230 bbl/day produced and 1,700 bbl/day of capacity), which is impacted by the expansion of the oil processing and specification system (it is worth noting that the asset was transferred on May 11, 2022 with limitations in the oil treatment process; To avoid temporary solutions and increase operational safety, 3R started construction and assembly activities, with completion scheduled for January 2023).
Peroá Cluster: the volume of gas produced at Peroá Cluster remains restricted, aligned with the lower demand from the buyer (which limited the purchase volume, according to the take or pay contract). The Company evaluates alternatives for better monetization of the total gas production capacity of the asset.
The production data referring to: (i) 100% of the Potiguar Cluster and (ii) 53.13% of Papa-Terra Cluster will be incorporated into this report as soon as the transition processes with Petrobras are concluded and approved by the ANP. For reference, according to ANP data, the oil production of such assets reached 27,050 bbl/day, of which 18,801 bbl/day refers to 100% of the Potiguar Cluster and 8,249 bbl/day referring to 53,13% of the Papa-Terra Cluster.
Brazil Energy Insight 
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