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3R Petroleum expands its portfolio with the acquisition of Polo Potiguar, strengthening its presence in the Brazilian oil and gas industry
3R Petroleum, a leading company in oil and gas exploration, announced today (07/06/23) the complete acquisition of Petrobras' stake in the Potiguar Pole. Located in the Potiguar Basin, in Rio Grande do Norte, this major investment was approved by the National Petroleum Agency (ANP), allowing 3R to take over operations from June 8th.
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 Guamarรฉ Industrial Asset (AIG), which comprises the natural gas processing units (UPGNs), the Clara Camarรฃo refinery and the Guamarรฉ Waterway Terminal, with storage capacity and systems for the export, import and cabotage of oil and oil products.
AIG brings together all the necessary facilities for the processing, treatment, refining, logistics and storage of oil and gas, coming 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 hubs in Macau, Areia Branca and Pescada.
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The Significance of the Pole Potiguar
The Pole Potiguar encompasses three concession subpoles: Canto do Amaro, Alto do Rodrigues and Ubarana, located in shallow waters, and between 10 and 22 km from the coast of Guamarรฉ. Logistics are streamlined, with all oil and gas production being transported via pipelines to the processing facilities at AIG.
The transaction was completed with a down payment of US๏ผ1,098 billion (R๏ผ5,408 billion), including all contractual adjustments. The contract also provides for an additional payment of US๏ผ 235 million in four annual installments, starting in March 2024.
In 2023, the Potiguar Pole registered an average production of 16,5 thousand barrels of oil per day and 37,3 thousand mยณ/day of natural gas. With this acquisition, 3R Petroleum will substantially increase its production scale.
3R Petroleum's Sustainable Growth
โThis acquisition is an important milestone for 3R. This allows us to optimize operations, take advantage of synergies and reduce costs along 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,โ said Matheus Dias, CEO of 3R Petroleum.
Currently, 3R Petroleum has nine assets in four basins and five Brazilian states, including the Potiguar Basin, the Recรดncavo Basin, the Espรญrito Santo Basin and the Campos Basin.
About 3R Petroleum
3R Petroleum is a publicly traded Brazilian company focused on onshore and offshore oil and gas production. Listed on B3's Novo Mercado, the company is committed to rethinking, redeveloping and revitalizing the operation of mature fields, increasing production with safety, efficiency and social responsibility.
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