Brava reached a record production level in February, registering a significant increase compared to the previous month.
This result is due to the investments and improvements carried out in the company’s main operational hubs.
In February, BRAVA’s consolidated average daily production from its twelve assets reached 73,854 barrels of oil equivalent (boe). The data takes into account the company’s stake in each asset.
Regarding operational performance, the company highlights:
Atlanta – Stable production from new wells and new FPSO yielding high operational efficiency
The average production over the last seven days was approximately 25,600 boe/d (100% of the asset), with outflows from the new wells 6H and 7H. Production at the FPSO Atlanta began on December 31, 2024 and since then it has shown operational efficiency levels that are beyond the expectations for a testing and start-up phase.
In the coming months, the company plans to complete the connecting of the four remaining wells (which previously produced through FPSO Petrojarl I) to the new FPSO Atlanta.
Papa-Terra – Production resumed in December with progress in optimizing the production output
The average production over the last seven days has been approximately 15,300 boe/d (100% of the asset), with outflow from the wells PPT-37, PPT-50 and PPT-51.
Later in the first half of 2025, the company will implement a solution to stabilize the FPSO power generation from the gas produced, thereby reducing diesel consumption and enabling the resumption of production from the other wells connected to Papa-Terra’s floating units (FPSO and TLWP).
Potiguar Complex – Gradual expansion of steam injection capacity
The 7% monthly increase is mainly due to: (i) the production boost in fields of heavy oil resulting from the gradual expansion of the steam injection capacity; and (ii) fiscal actuation of oil retained in the previous month, due to ATI distribution restrictions.
Recôncavo Complex – Greater operational efficiency
The +10% performance improvement is primarily explained by: (i) greater operational efficiency compared to the previous month; and (ii) the resumption of gas production, which had been affected by the scheduled maintenance shutdown of the Catu gas processing plant (UPGN), operated by Petrobras, in the previous month.
Manati
The operator indicates that production is expected to resume by the end of March/2025.
Brava operates the Potiguar and Recôncavo Complexes, Papa-Terra, Atlanta and Peroá, while also holding non-operator stakes of 35% in the Pescada Cluster, 45% in the Manati field (both operated by Petrobras) and 23% in Parque das Conchas (operated by Shell). The production details per asset are updated monthly in the company’s valuation guide, which is available on the Investor Relations website.
