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 November 2023.
(1) It does not consider gas production at Areia Branca, Fazenda Belém and Papa Terra Clusters, as those volumes are consumed in the operation process and/or reinjected into the reservoirs.
(2) Refers to the 35% stake held by 3R at the Pescada Cluster. 65% WI is in operational transition phase.
(3) Production at Cluster in 2Q23 considers 23 days of operation, since June 8, 2023, the date on which the Company took over the asset’s operation.
(4) In November 2023, approximately 62% of the gas produced at the Recôncavo Cluster was reinjected into the reservoirs.
(5) Refers to the 85% stake held by 3R at the Peroá Cluster. 70% WI until Aug/22.
(6) The asset’s production in 4Q22 considers only nine days of operation. Refers to the 53.13% stake held by 3R at the Papa Terra Cluster.
3R is the operator of Potiguar, Macau, Areia Branca, Fazenda Belém, Rio Ventura, Recôncavo, Peroá and Papa Terra Clusters, and holds a 35% stake in the Pescada Cluster, the latter operated by Petrobras. The consolidated average daily production of the nine Clusters mentioned above totaled 52,257 barrels of oil equivalent (boe) in November 2023, of which the portion referring to 3R’s stake reached 44,878 boe/d.
Regarding the operating performance of the upstream segment in November 2023, the Company highlights:
Potiguar Complex: production reduced by 1.1% boe/d compared to the previous month (M/M). The performance is justified by: (i) temporary restrictions in the production of natural gas and condensate oil in the Macau and Pescada Clusters, related to the stoppage for scheduled maintenance of the Guamaré Natural Gas Processing Units in November, and (ii) due to instability in the region’s electricity supply, caused by operational interventions by the local energy distributor.
Recôncavo Complex: production grew by 2.4% boe/d M/M. The performance is explained by the continued result of successful well interventions in the region.
Peroá Cluster: production increased by 3.0% boe/d M/M. The result reflects the sale of the volume of natural gas predicted in the take-or-pay contract, in addition to the surplus sold, in line with the higher market demand recorded in November.
Papa Terra Cluster: production decreased by 11.0% bbl/d M/M. The performance in the month is justified by interventions in automation systems and preparatory activities for the connection of a new producing well.
In the first days of December, 3R completed the first offshore well intervention in its history by carrying out the workover to replace the ESP (Electrical Submersible Pumping) of the PPT-22 well in a water depth of 1,158 meters. The intervention was carried out in 35 days with the support of the Alpha Star rig, contracted with Constellation, and took place safely and without incident, according to the Company’s technical and financial planning. The PPT-22 well started production on December 3, 2023 and is in a stabilization period. After the work completion, the rig was moved to the PPT-12 well, where the activities of the second workover planned for Papa Terra have already started.
In November, oil offloading at Papa Terra Cluster summed 247 thousand barrels, corresponding to 3R Offshore subsidiary.
Brazil Energy Insight 
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