BRAVA ENERGIA (“BRAVA”) (B3: BRAV3) (“Company”), hereby informs its investors and the market in general of the preliminary and unaudited production data for September 2024.
(1) Considers the full production of the assets in which the Company has a stake. (2) Considers the production of condensate at the Peroá and Manati assets. (3) In September 2024, approximately 25% of the gas produced in Recôncavo was reinjected into the reservoirs. (*) The Company clarifies that, as previously announced, it exercised the right to compulsory transfer of Nova Técnica Energy Ltda.’s (“NTE”) stake in the Papa-Terra field, having initiated the transfer process before the ANP as provided for in the Joint Operating Agreement (JOA) signed between the Parties. NTE instituted arbitration proceedings against the loss of its interest in the asset, and subsequently obtained a preliminary decision in the pre-arbitration precautionary proceedings, which determined the suspension of the power of attorney used in the proceedings with the ANP and that Company no longer declares itself as the sole holder of the Papa-Terra Field. Therefore, in compliance with the court decision, the Company no longer presents the production corresponding to each of the interests it holds in the respective assets.
Atlanta – Transfer of well #4 connection to FPSO Atlanta
According to the project’s original schedule and budget, well #4 was disconnected from FPSO Petrojarl I on October 2nd to be connected to FPSO Atlanta. Production at FPSO Petrojarl I continues through well #5 with average daily production of approximately 9 kboe/day. The Company expects to start production from FPSO Atlanta in the fourth quarter of 2024, subject to the issuance of pending licenses by ANP (Brazilian National Agency of Petroleum, Natural Gas and Biofuels).
Papa Terra – Maintenance campaign in progress
Papa Terra operation was halted on September 4th to fulfill adjustments requested by the ANP. Given the context limiting the number of people on board, the Company opted to move forward on inspection and maintenance items that were scheduled for the coming months, keeping the units on a scheduled stoppage with production expected to resume in December 2024.
Parque das Conchas – Acquisition in progress
Brava entered into an agreement to acquire 23% of the asset held by QatarEnergy Brasil Ltda., with an effective date of July 2023. The closing of the transaction is subject to conditions precedent. The average production of the asset in 2024, corresponding to the stake acquired, was 6.2 thousand boe/day.
Manati – Return to production estimated by the operator in 4Q24
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Brava is the operator of Potiguar, Macau, Areia Branca, Fazenda Belém, Rio Ventura, Recôncavo, Peroá, Papa-Terra and Atlanta assets, and holds a 35% stake in Pescada cluster and a 45% stake in Manati field, which are operated by Petrobras. The production breakdown by asset is updated monthly in the Company’s valuation guide, available on the Investor Relations website.
Brazil Energy Insight 
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