BRAVA ENERGIA S.A. (“BRAVA” or “Company”) (B3: BRAV3), informs its investors and the market in general the preliminary and unaudited production data for the month of March 2025.
(1) Papa-Terra: On April 16, 2024, 3R Offshore exercised, in accordance with the provisions of the Joint Operating Agreement (JOA), the right of compulsory assignment (forfeiture) of the 37.5% undivided interest held by Nova Técnica Energy Ltda. (NTE) in the consortium, due to NTE’s default on financial obligations. Following the exercise of forfeiture, NTE initiated arbitration proceedings questioning the application of the compulsory assignment clause provided in the JOA and filed pre-arbitral precautionary proceedings before the Court of Justice of Rio de Janeiro, where an injunction was granted, ordering the suspension of the process before the ANP until the arbitral decision is rendered. The Company awaits the decisions resulting from the arbitration and informs that the Arbitration Court was formed in March 2025; (2) On September 26, 2024, the Company completed the transaction to sell 20% of Atlanta to Westlawn Americas Offshore LLC, reducing its stake in the asset to 80%; (3) In March 2025, ~26% of the gas produced in the Recôncavo Complex was reinjected; (4) On December 30, 2024, the Company completed the acquisition of the 23% stake in Parque das Conchas held by QatarEnergy.
Atlanta – FPSO with high operational efficiency and connection of wells 4H and 5H in final stage
The results presented in Atlanta still include scheduled shutdowns for tests that occurred during the month of March and do not reflect the maximum potential of the first connected wells. The FPSO Atlanta presents operational efficiency above that expected for a testing stage (operation starting in December 2025), with wells 6H and 7H producing as planned. The connection of wells 4H and 5H is expected to be completed in April, while the connection of wells 2H and 3H is expected to be completed in June 2025.
Papa-Terra – Another optimization step completed
The March result was impacted by planned days of reduced flow, which were necessary to allow the optimization of systems that will provide greater resilience to the asset’s operation during 2025.
Potiguar Complex – Well integrity and recovery activities in progress
The month’s result reflects the normal fluctuation expected for the operation while the Company implements projects to reactivate wells and expand steam injection in heavy oil fields.
Recôncavo Complex – Maintaining the level of operational efficiency
Stable performance compared to the previous month, maintaining the high level of operational efficiency, justified by the addition of wells during the beginning of 2025.
Manati
At the end of March 2025, the operator obtained authorization from the ANP to resume operations, which are expected to take effect during April.
Brava is the operator of the Potiguar and Recôncavo Complexes, Papa-Terra, Atlanta and Peroá, and holds a non-operated stake of 35% in the Pescada Cluster, 45% in the Manati Field, both operated by Petrobras, and 23% in Parque das Conchas, operated by Shell. The breakdown of production by asset is updated monthly in the Company’s valuation guide, available on the Investor Relations website.
To access the spreadsheet, click here.
Brazil Energy Insight 
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