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 May 2023.
(1) It does not consider gas production at the Areia Branca, Fazenda Belém and Papa Terra Clusters, as it is consumed in operations and/or reinjected into the reservoirs.
(2) Refers to the 35% interest held by 3R in the Pescada Cluster. 65% WI in transition phase.
(3) In May, approximately 55% of the gas produced at the Recôncavo Cluster was reinjected into the reservoirs.
(4) Refers to the 85% interest held by 3R in the Peroá Cluster. 70% WI up to Aug/22.
(5) The asset’s production in the 4Q22 considers only nine days of operation. Refers to the 53.13% interest held by 3R in the Papa Terra Cluster.
In May 2023, 3R was the operator of Macau, Areia Branca, Fazenda Belém, Rio Ventura, Recôncavo, Peroá and Papa Terra Clusters, and held a 35% stake in the Pescada Cluster, the latter still operated by Petrobras. The consolidated average daily production of the eight Clusters mentioned above totaled 27,618 barrels of oil equivalent (boe) in May 2023. Of this total, the portion referring to 3R’s stake reached an average daily production of 22,346 boe.
It should be noted that the production data from the Potiguar Cluster, an asset that 3R took over the operation on June 8, 2023, will be incorporated in the production report referring to the month of June 2023.
Regarding the operational performance of May 2023, the Company highlights that:
Potiguar Complex: production at the Potiguar Complex recorded a growth of 7.3% boe/d compared to the previous month (M/M). The performance is justified by the Macau Cluster operation, that recorded a 7.4% growth on daily output, mainly driven by: (i) the reactivation of wells, (ii) the increase in the production flow capacity from the CN-B station to the Industrial Asset of Guamaré (located in the Potiguar Cluster), (iii) the positive result of rig operations, especially workovers, and (iv) partially offset by interventions in overall facilities and the separation plants, still in progress, related to the expansion of the processing capacity of the asset.
Recôncavo Complex: production at the Recôncavo Complex increased by 9.7% boe/d M/M. The monthly performance is mainly explained by: (i) the greater stability in oil production at the Recôncavo Cluster, +8.9% bbl/d, and (ii) the increase in gas production at the Rio Ventura Cluster, +43.7 % boe/d, due to higher demand of gas in the region.
Peroá Cluster: production at the Peroá Cluster grew 29.9% boe/d M/M. This result reflects the increase in gas production at the asset, +31.5% boe/d M/M, in line with greater buyer demand under the take or pay agreement.
Papa Terra Cluster: production at the Papa Terra Cluster registered a monthly reduction of 51.5% bbl/d. This result is explained by the temporary interruption in the asset production, due to storage capacity limitation of the 3R-3 platform and a damage in the flexible hose used in the offloading operations (transfer of stored oil to shuttle tankers), as disclosed on material facts on May 16 and May 29, 2023. The Company informs that the operation at the Papa Terra Cluster has been resumed, currently operating through three wells (PPT-16, PPT-50 and PPT-51).
In May, oil offloading at the Papa Terra Cluster summed 177 thousand barrels, corresponding to 3R Offshore subsidiary.