Investor Presentaiton
DBO Assets - Papa Terra (9.375% indirect working interest)
Key takeaways
Key stats (net DBO)
Field overview and key field statistics²
Location / Basin
15.6 mmboe
Type:
Concession Term:
Partners:
Recovered Oil:
Rio de Janeiro / Campos
Offshore Brazil
2032 (extendable by 27
years)
3R Petroleum
(OP,53.125%), MTI Energy
(37.5%) and DBO (9.375%)
Under negotiations
2.4% / 46.6 mmboe (Oct-
22)
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•
.
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Papa Terra is a heavy oil field located in deep waters in the Campos
Basin, approximately 100km off the coast of the State of Rio de
Janeiro, Brazil
Approximately 2.4% of the oil has been recovered as of October
2022 and gross 2P reserves are estimated to 166 mmboe per year-
end 2022
3R Offshore closed the acquisition of Petrobras' working interests
(62.5%) in the Papa Terra Cluster in December 2022
State of the art assets with 6 years of operations
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•
P-63 FPSO and P-61 Tension Leg Wellhead Platform - USD
~3bn in gross historical investments
All assets are owned by the license holders. Thus, DBO has
a 9.375% stake in both assets
The P-61 is a tension leg wellhead platform (TLWP), the first
of its kind to be installed in Brazil's offshore and the first to
use floating dry tree technology in the country.
Net 2P reserves
(YE'21)
USD 122 million
net NPV10 of 2P
(YE'22)
USD 126 million
Cumulative net cash
flow 2023-2030
Offtaker:
•
FPSO P-63 has an oil production capacity up to 140,000
bopd
Papa Terra
~1,726 boepd
Net production Dec
2022
FPSO P-63
1) Based on public reserve reports DeGolyer and MacNaughton and Institutional Presentation, 3R Petroleum, August
2022. Value and cash flow estimates are based on oil price of USD 71/bbl in 2023 and USD 66/bbl thereafter and are
net of contingent payments. 2) Institutional Presentation, 3R Petroleum, August 2022
14
Field (VOIP)
(5)
1 Papa Terra (1.9 billion bbls)
(4)
Maromba (2.1 billion bbls)
3 Peregrino (4.0 billion bbls)
4 Tubarão Martelo (428 million bbls)
5 Polvo (544 million bbls)
TWLP P-61View entire presentation