Petrobras and 3R Petroleum Resume Negotiations for Natural Gas Contracts in the Potiguar Basin

Written by Flavia Marinho

Published on 07/04/2022 at 12:35

Updated on 03/06/2022 at 13:58

Plataforma na área de produção de “shale” de Vaca Muerta, na província argentina de Neuquén 21/01/2019 REUTERS/Agustin Marcarian

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3R Petroleum Made an Offer to Petrobras of US$ 1 Billion for the Purchase of the Potiguar Cluster, Which Includes 26 Onshore and Shallow Water Fields and the Clara Camarão Refinery

3R Petroleum informed the market in a relevant fact, this Monday (12/13), that its subsidiaries 3R Macau and 3R Pescada renegotiated with Petrobras, last Wednesday (12/08), amendments to the natural gas purchase and sale contracts referring to the gas produced in the Sanhaçu field (Macau Cluster) and in the Pescada Cluster, before treatment at the Natural Gas Processing Units (UPGNs), located in Guamaré (RN).

3R Petroleum Made an Offer of Around US$ 1 Billion for the Acquisition of the Potiguar Cluster

Recall that on June 27, the state-owned company announced that 3R Petroleum made an offer of around US$ 1 billion for the acquisition of the cluster, which also includes 26 onshore and shallow water fields and the Clara Camarão refinery.

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According to the statement, the commercial terms remain the same for the 35% interest in the Pescada Cluster already held by 3R, maintaining fixed pricing regardless of Brent’s price. Only an automatic transfer clause of the contracts to the buyer of the Potiguar Cluster was included, if Petrobras concludes this transaction during the contract’s validity. Such a clause was also included in the other amendments.

As for Sanhaçu and the 65% of the Pescada Cluster currently held by Petrobras, which are in the process of transitioning to 3R, “significantly higher selling price conditions than the current ones” were established, said 3R.

3R Petroleum Holds 264.3 Million Barrels of Oil Equivalent Certified as Proved Plus Probable Reserves (2P), of Which 18% or 47.0 Million Boe Are Natural Gas Reserves.

3R Petroleum: Net Loss of R$ 14.1 Million, a Decrease of 67.4%

3R Petroleum Oil and Gas reported a net loss of R$ 14.1 million in the third quarter of this year, a 67.4% decrease compared to the same period in 2020, according to financial statements submitted to the Securities and Exchange Commission (CVM).

The negative financial result was one of the main factors, especially due to Brent’s hedge, in a scenario where the reference is higher than the average price of the contracted derivative. The exchange rate also had a negative impact.

The net revenue stood at R$ 192.18 million, which represents a 25.8% increase compared to the second quarter of this year.

Petrobras and 3R Petroleum Resume Negotiations for Natural Gas Contracts in the Potiguar Basin

3R Petroleum Made an Offer to Petrobras of US$ 1 Billion for the Purchase of the Potiguar Cluster, Which Includes 26 Onshore and Shallow Water Fields and the Clara Camarão Refinery

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3R Petroleum Holds 264.3 Million Barrels of Oil Equivalent Certified as Proved Plus Probable Reserves (2P), of Which 18% or 47.0 Million Boe Are Natural Gas Reserves.

3R Petroleum: Net Loss of R$ 14.1 Million, a Decrease of 67.4%

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Petrobras and 3R Petroleum Resume Negotiations for Natural Gas Contracts in the Potiguar Basin

3R Petroleum Made an Offer to Petrobras of US$ 1 Billion for the Purchase of the Potiguar Cluster, Which Includes 26 Onshore and Shallow Water Fields and the Clara Camarão Refinery

See Also

3R Petroleum Made an Offer of Around US$ 1 Billion for the Acquisition of the Potiguar Cluster

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

3R Petroleum Holds 264.3 Million Barrels of Oil Equivalent Certified as Proved Plus Probable Reserves (2P), of Which 18% or 47.0 Million Boe Are Natural Gas Reserves.

3R Petroleum: Net Loss of R$ 14.1 Million, a Decrease of 67.4%

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