3R PETROLEUM ÓLEO E GÁS S.A. (“3R” or “Company”), following best practices in Corporate Governance, informs its investors and the market in general the preliminary unaudited production data for November 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 14,282 barrels of oil equivalent (boe) in November 2022. Of this total, the portion referring to 3R’s stake reached an average daily production of 13,173 boe.
Regarding the operational performance of November 2022, the Company highlights that:
Potiguar Complex: the production of Areia Branca, Fazenda Belém and Pescada Clusters was stable in the month. The performance of the Macau Cluster remained below the production capacity of the asset, impacted by: (i) final commissioning activities of the oil-water separation plants, which required the temporary reduction of the production, and (ii) the impact of a full month of reduction of the production flow and temporary stoppage of the activity in some wells for the partial replacement of a drain pipeline that directs the production from CN-B to the Industrial Asset of Guamaré (in Potiguar Cluster). The Company expects to complete the pipeline interventions in CN-B in the first quarter of 2023.
The Company highlights that the oil-water separation plants of the Macau Cluster have been completed and are in operational phase, performing the fiscal measurement of the production. The Macau-A plant, which processes approximately 60% of the asset’s oil production, started its operation on November 23, 2022 and the CN-B plant, which processes the remain part of the asset’s oil production, started its operation on December 07, 2022. The beginning of the plants operation still involves some tests steps and production stoppages that can lead to production volatility in the first weeks after the project completion.
Recôncavo Complex: The Rio Ventura Cluster presented consistent performance, even before the drilling campaign begins. Gas production boosted the performance of +8.9% M/M in the asset. In the Recôncavo Cluster, November production was still impacted by the temporary halt of wells to enable facilities interventions (oil processing and specification system), which were completed in early December. Oil production was partially recovered, + 7.2% M/M, supported by the partial release of installed capacity in November, while gas production was still impacted by the temporary halt of some wells in the month.
Peroá Cluster: the volume of gas produced rose 12.6% M/M, due to the demand increase as of the second half of November, following the take or pay contract. Alternatives for better monetization of the whole gas production capacity are being evaluated by the Company.
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.