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 February 2023.
(1) Refers to the 35% Interest held by 3R in Pescada Cluster concessions.
(2) In February, approximately 60% of the gas produced at the Recôncavo Cluster was 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.
(4) The Company took over the operations of Papa Terra Cluster on December 23. The fourth quarter average daily production was calculated considering just 9 days of operations. 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 28,203 barrels of oil equivalent (boe) in February 2023. Of this total, the portion referring to 3R’s stake reached an average daily production of 21,499 boe.
Regarding the operational performance of February 2023, the Company highlights that:
Potiguar Complex: production at the Potiguar Complex recorded growth of 8.7% boe/d compared to the previous month (M/M). The performance is mainly justified by the partial recovery of Macau Cluster, +13.2% boe/d M/M, supported by the gradual reopening of wells. It should be noted that the asset still operates with limited capacity, impacted by: (i) adaptation activities in the oil-water separation plants, and (ii) temporary closure of wells for partial replacement of a pipeline that directs the production of CN-B to the Guamaré Industrial Asset (located in the Potiguar Cluster), with conclusion expected for the first quarter of 2023.
Recôncavo Complex: production at the Recôncavo Complex registered a reduction of 9.1% boe/d M/M. The performance is explained by: (i) limitations of the NGPU of Catu to receive gas on certain days of the month, and (ii) maintenance in the electrical supply network which affected part of the production of the Recôncavo Cluster for 4 days.
Offshore Complex: production from the Offshore Complex registered a reduction of 13.4% boe/d M/M. This result is due to: (i) stable gas production at the Peroá Cluster, in line with the volume of demand established in the take or pay contract, and (ii) the reactivation of a new producing well at the Papa Terra Cluster in February, offset by the stoppage of production at the asset as of February 25, 2023, due to limitation in the energy generation and supply systems of the 3R-2 unit (TLWP), as material facts disclosed on February 28, 2023 and March 8, 2023. In February, offloading operations (transfer of stored oil to shuttle tankers) were carried out at Papa Terra Cluster, with a total volume of 354 thousand barrels of oil billed by 3R Offshore.
The Company informs that production at Papa Terra Cluster has been re-established through one of the wells, with the reactivation of another three expected in the next few days.
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.
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