3R Petroleum is an independent Oil Company focused on redevelopment of mature oil fields. The Company is composed with professionals who have more than 30 years of experience in oilfield operations in South American Countries. The technical credentials of our executives include significant results of increased production and reserves in oil fields in Brazil, Venezuela, Peru and Argentina.
"Redevelop, Revitalize, and Rethink" are the verbs that guide the Company and gave foundation to the name of 3R Petroleum. We specialize in rethinking oil and gas field’s development strategies through the implementation of investment in technologies and projects in mature oil fields. Increasing the scale of operations with optimization of production processes focusing on the safety of people and the environment is the main objective of 3R Petroleum.
Establish a large independent Brazilian oil company focused on oil and gas production with scale in Brazil and Latin America, operating with the best technical, safety and management standards and with high return on investment. Our goal is to be among the largest onshore producers of oil and natural gas in Brazil and other Latin American countries. In order to accomplish this, our business model foresees the acquisition of strategic assets with production scale and upside opportunities after the implementation of EOR (enhanced oil recovery) projects in partnership with relevant global companies from the oil and gas industry.
On November 28, 2018, Petrobras published a press release announcing the sale to 3R Petroleum of its rights in 34 oil field concessions, called Riacho da Forquilha cluster: Acauã, Asa Branca, Baixa do Algodão, Boa Esperança, Baixa do Juazeiro, Brejinho, Cachoeirinha, Cardeal, Colibri, Fazenda Curral, Fazenda Junco, Fazenda Malaquias, Jaçanã, Janduí, Juazeiro, Lorena, Leste de Poço Xavier, Livramento, Maçarico, Pardal, Patativa, Pajeú, Paturi, Poço Xavier, Riacho da Forquilha, Rio Mossoró, Sabiá, Sabiá Bico de Osso, Sabiá da Mata, Sibite, Três Marias, Trinca Ferro, Upanema e Varginha. The cluster currently produces approximately 6,000 barrels of oil per day. Below are the links about this negotiation.
3R Petroleum actively participates in Petrobras onshore divestment assets program called (Projeto Topázio) and has been selected for the binding phase of the sale of several clusters. For each opportunity, 3R Petroleum has world-class partner and has specific strategy associated with the characteristics of each cluster made available by Petrobras.