PetroReconcavo Will Supply Natural Gas to RN; Contract Will Allow for Increased Demand and Reduced Prices for End Consumers

PetroReconcavo Signed a Contract with Potigás in RN for the Supply of Natural Gas to the State, The Oil Company Claims That the Contract Will Increase Demand and Reduce Prices by Up to 35% for End Consumers

PetroReconcavo signed a contract on Wednesday (29) for the supply of 236 thousand m³ of natural gas per day to Companhia Potiguar de Gás starting January 1 of next year. The agreement was celebrated in Mossoró (RN) with the participation of Fátima Bezerra, the state governor, and executives from both companies. The agreement will help reduce the price of gas that reaches the end consumer.

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Natural Gas Contracts Will Benefit Consumers in RN

The gas produced by PetroReconcavo will come from the 32 concessions currently operated by Potiguar E&P, a subsidiary of PetroReconcavo since 2019 in RN. The subsidiary was formerly known as Riacho da Forquilha, and these assets were sold by Petrobras in mid-2019 for R$ 300 million.

According to Marcelo Magalhães, CEO of PetroReconcavo, the contract will increase demand for natural gas in RN due to the reduction in prices for end consumers.

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The company has been investing heavily in the reliability of its natural gas production flow systems to ensure a stable and safe supply to its customers.

Natural Gas Prices Will Be Reduced by 35% for End Consumers

The contract between PetroReconcavo and Potigás will last for two years and, according to the distributor in RN, will represent a 35% reduction in the value of natural gas, with all savings generated by the new contract being passed directly to the end consumer.

According to Larissa Dantas, president of Potigás, not only the end consumer of piped natural gas will benefit, but the entire state of RN, as the entire natural gas chain is executed within the potiguar territory, also fostering the state’s attractiveness for investments in new industries, directly impacting the economy by generating jobs and income for the population of RN.

RN Governor Fátima Bezerra stated that she has positive expectations after the signing of the contract. According to Fátima, it is mainly expected that the price of Natural Gas for the end consumer will be reduced and that the fuel will be an important differentiator and attraction for RN, bringing other companies to the state and generating jobs for its people.

Get to Know PetroReconcavo

PetroReconcavo is one of the leading independent operators focused on onshore fields in Brazil. Recognized for its excellent reputation with clients, regulators, suppliers, agencies, and collaborators, the company has a specialized and experienced team, including founding professionals and shareholders with extensive experience in the sector.

The company’s portfolio includes natural gas concessions, where the company acts as a concessionaire or operator. In declining fields, the company creates new revitalization systems for production.

The company’s expertise is directly related to high performance efficiency and operational costs, the implementation of secondary recovery mechanisms using water injection, vertical integration of services, and other activities.