3R Petroleum Óleo e Gás S.A. is a company in the oil and gas sector with a focus on redevelopment of mature production fields located on land (onshore) and in shallow water. “Redesign, Revitalize and Rethink” are the pillars that guide its strategy of increasing production and reserves in mature fields and that subsidize the goal of making it a large private and independent oil company, with a scale in Brazil and other countries in Latin America. The Company’s business plan is based on organic growth, through the redevelopment of the current portfolio, and inorganic growth, through opportunities to acquire mature assets.
The Company’s corporate purpose is to: (a) explore, produce and sell oil and its derivatives, natural gas and other fluid hydrocarbons, including, without limitation, the Brazilian sedimentary basins to which the National Petroleum, Natural Gas and Biofuels Agency – ANP (“ANP”) has granted licenses, as well as sedimentary basins abroad; (b) importing and exporting oil and any derivatives thus produced; and (c) participating in other companies as a partner, shareholder or quotaholder, in the country or abroad, that act in activities related to the Company’s corporate purpose.
It should be noted that the Company holds the qualification of Operator “A” for ANP, a strong strategic differential that enables us to operate oil and gas fields in onshore and offshore areas, including deep and ultra-deep waters, such as those in the pre-salt, for example.
However, the Company’s business plan remains focused on mature fields, aiming to capture opportunistic acquisitions of assets: (i) in production; (ii) with proven reserves that can be certified; (iii) with the capacity to increase production from investments with accelerated payback; (iv) with facilitated logistics infrastructure; and (v) that have significantly lower lifting costs when compared to other local companies (players) that operate in deep waters (offshore). The Company does not consider in its business plan to invest in projects in the exploration phase. The graph below illustrates how its operation is located in the production chain of the oil and gas industry.