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3R Petroleum Expands Its Portfolio with the Acquisition of the Potiguar Pole, Strengthening Its Presence in the Brazilian Oil and Gas Industry
3R Petroleum, a leading oil and gas exploration company, announced today (06/07/23) the complete acquisition of Petrobras’ stake in the Potiguar Pole. Located in the Potiguar Basin in Rio Grande do Norte, this significant investment was approved by the National Agency of Petroleum (ANP), allowing 3R to take over operations starting June 8.
Acquisition Details
The acquisition includes the transfer of 22 oil and gas fields, along with the necessary infrastructure and pipeline systems to support operations. This agreement also encompasses the Guamaré Industrial Asset (AIG), which includes natural gas processing units (UPGNs), the Clara Camarão refinery, and the Guamaré Maritime Terminal, with storage capacity and oil export, import, and cabotage systems.
The AIG includes all facilities necessary for the processing, treatment, refining, logistics, and storage of oil and gas from all onshore and offshore fields in Rio Grande do Norte. This includes fields operated by other companies, in addition to those acquired by 3R in the region, such as the Macau, Areia Branca, and Pescada poles.
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The Significance of the Potiguar Pole
The Potiguar Pole encompasses three sub-poles of concessions: Canto do Amaro, Alto do Rodrigues, and Ubarana, located in shallow waters, between 10 and 22 km from the Guamaré coast. Logistics are optimized, with all oil and gas production being transported via pipelines to the processing facilities at the AIG.
The transaction was completed with a payment of US$ 1.098 billion (R$ 5.408 billion), including all contractual adjustments. The contract also provides for an additional payment of US$ 235 million in four annual installments, starting in March 2024.
In 2023, the Potiguar Pole recorded an average production of 16,500 barrels of oil per day and 37,300 m³/day of natural gas. With this acquisition, 3R Petroleum will substantially increase its production scale.
Sustainable Growth of 3R Petroleum
“This acquisition is an important milestone for 3R. It allows us to optimize operations, leverage synergies, and reduce costs throughout the production chain. We are committed to the development of Rio Grande do Norte and look forward to bringing improvements to the communities in which we operate,” said Matheus Dias, CEO of 3R Petroleum.
Currently, 3R Petroleum operates nine assets in four basins and five Brazilian states, including the Potiguar Basin, Recôncavo Basin, Espírito Santo Basin, and Campos Basin.
About 3R Petroleum
3R Petroleum is a publicly traded Brazilian company focused on onshore and offshore oil and gas production. Listed on the Novo Mercado of B3, the company is dedicated to rethinking, redeveloping, and revitalizing the operation of mature fields, increasing production safely, efficiently, and with social responsibility.
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