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The average production of the fields in 2021 was approximately 691 barrels of oil per day and 362.3 thousand m³/day of natural gas; there is a great potential to increase production in this pole, according to the Company’s reserve reports.

PetroReconcavo took over yesterday (12/06/2021) the operation of the Miranga Cluster, located in the Recôncavo Basin, in Bahia.

With the closing of the transaction, the Company becomes the concessionaire and operator of nine more onshore fields: Apraius, Biriba, Fazenda Onça, Jacuipe, Miranga, Miranga Norte, Rio Pipiri, Riacho de São Pedro, and Sussuarana.

The total amount of the acquisition was US$ 220.1 million, considering the contingent installments provided for in the contract. The Company fulfilled on this date the payment of R$268,766,204.04 equivalent to US$47.7 million, of which US$44.0 million refers to the portion due at the closing of the transaction and a further US$3.7 million refers to the acquisition of inventory of materials of interest to the Company. This amount is in addition to the $11.0 million paid to Petrobras upon the signing of the purchase and sale agreement.

According to PetroReconcavo’s CFO, Rafael Procaci da Cunha, the Pole stands out for having expressive production capacity, and the Miranga Cluster has the third largest accumulated production of natural gas among the Brazilian onshore fields.

“This acquisition is totally in line with our strategy of expanding the representativeness of Natural Gas in our production and reserves portfolio,” concludes Rafael.