3R Petroleum aiming at 1Mm3/d Peroá gas output

3R Petroleum is aiming at average natural gas output of 1Mm3/d (million cubic meters a day) at its recently acquired Peroá pole, off Brazil’s southeast coast, CEO Ricardo Savini told an investors webcast. 

Currently, the pole, which comprises the Peroá and Cangoá fields, produces around 840,000m3/d, expected to increase with the future tie-back of the Malombe discovery to the Peroá platform. 

According to tests by former operator Petrobras, the prospect has a peak production potential of 2.5Mm3/d of gas 

“But our base case scenario is a plateau production of 1Mm3/d, aiming at extending the life of the field until the end of the next decade,” Savini said. 

3R and DBO Energy signed the US$55mn Peroá contract with Petrobras in February.

According to 3R, the pole has 24.5Mboe (million barrels of oil equivalent) of 2P oil reserves and 17.5Bm3 (billion cubic meters) of 2P gas reserves. Of the total, 89% are proven (1P). Last year, its average production was 4,400boe/d. 

Together with Peroá and its Macau, Pescada and Arabaiana, Fazenda Belém, Rio Ventura and Recôncavo poles, 3R has 174Mboe of 2P reserves (73% of which 1P) and is extracting 14,500boe/d. 

In Recôncavo, whose output is around 6,300boe/d, the oil firm plans to drill 160 wells, carry out intervention works at 98 wells, and reactivate another 165 in the coming years. 

Meanwhile, 3R is working to integrate it with neighboring Rio Ventura pole, also in Bahia and acquired from Petrobras.  

“We could use Recôncavo’s gas processing unit to treat the output from both poles in a synergic manner,” CFO Rodrigo Pizarro said. 

In Macau, Rio Grande do Norte state, 3R reached output of 4,593boe/d in February, up 27% from June 2020, when it became its operator. Over 50% of the local wells have been automated since the company took over. 

3R may soon add the Papa-Terra field to its portfolio, as shareholder Starboard is negotiating the acquisition of the Campos basin asset with Petrobras. 

The company seeks refineries adapted to heavy oil to reduce the discounts on Papa-Terra’s future sales, Savini said.