3R PETROLEUM ÓLEO E GÁS S.A. (“3R” or “Company”) (B3: RRRP3), following best practices in Corporate Governance informs its investors and the market in general the preliminary unaudited production data for December 2022.
(1) Refers to the 35% Interest held by 3R in Pescada Cluster concessions.
(2) In December, approximately 70% of the gas produced at the Recôncavo Cluster was reinjected into the reservoirs of its fields.
(3) 3R took over the operations of Papa Terra Cluster on December 23. The average daily production for December was calculated considering the 9 days of 3R operation. The volume of gas produced in the asset is fully consumed in operations and/or reinjected into the reservoir. In December, the Company did not sell the oil produced in the asset.
(4) Refers to the interest held by 3R in Peroá Cluster concessions, considering 70% in August and 85% from September 2022. The stake of Papa Terra held by 3R is 53.13%.
The Company is the operator of Macau, Areia Branca, Fazenda Belém, Rio Ventura, Recôncavo, Peroá and Papa Terra Clusters and holds a 35% stake in Pescada Cluster, the latter operated by Petrobras. The consolidated average daily production of the eight clusters mentioned above totaled 34,782 barrels of oil equivalent (boe) in December 2022. Of this total, the portion referring to 3R’s stake reached an average daily production of 25,336 boe.
Regarding the operational performance of December 2022, the Company highlights that:
Potiguar Complex: the production of Areia Branca and Fazenda Belém Clusters was stable in the month, while Pescada Cluster, operated by Petrobras, increased by 8.0% M/M in boe/d. The Macau Cluster showed partial recovery, +4.5% M/M in boe, but remained below the production capacity of the asset, impacted by: (i) set-up activities of oil-water separation plants that required temporary reduction of production, and (ii) the impact caused by the reduction of the production flow and temporary stoppage of the activity in some wells for the partial replacement of a pipeline that directs the production from CN-B to the Industrial Asset of Guamaré (in Potiguar Cluster). The Company reiterates its expectation to complete the pipeline interventions in CN-B in the first quarter of 2023.
Recôncavo Complex: the Recôncavo Complex presented important increase of 39.6% M/M in production in boe/d. The performance was driven by the Recôncavo Cluster results. Facilities interventions on the asset (oil processing and specification system) were concluded in early December, allowing the reactivation of wells that were temporarily closed, in addition to the consistent operational performance of Rio Ventura Cluster. Oil production increased by 23.1% M/M, while gas production rose 56.0% M/M.
Offshore Complex: the Offshore Complex recorded significant production growth, based on the higher gas demand under the take or pay contract of the Peroá Cluster, +23.3% M/M, and the incorporation of the Papa Terra Cluster on December 23, 2022, whose its average oil production was 16,995 barrels on the days operated by 3R.
The production data referring to 100% of the Potiguar Cluster will be incorporated into this report as soon as the transition processes with Petrobras are concluded and approved by the ANP.