By Brazil Stock Guide – Brava Energia (B3: BRAV3) produced an average of 85,200 barrels of oil equivalent per day (boe/d) in October 2025, according to preliminary data released on Thursday (Nov. 6). The figure represents a decline from the third-quarter average of 91,800 boe/d, reflecting the temporary shutdown of part of the Potiguar cluster’s facilities following an audit by Brazil’s oil regulator ANP focused on the Operational Safety Management System (SGSO).
Offshore strength offsets onshore weakness
Despite the drop in total output, offshore assets continued to perform strongly, averaging 54,846 boe/d, compared with 30,386 boe/d from onshore fields. Papa-Terra posted its best production since its acquisition in December 2022, while Parque das Conchas reached its highest level since Brava closed the transaction in December 2024.
Oil output averaged 69,762 barrels per day, driven by gains from Papa-Terra (12,136 bbl/d) and Parque das Conchas (7,431 bbl/d). The decline in total volumes was primarily due to the ANP-ordered partial suspension of Potiguar’s operations, which impacted onshore performance. Brava said it has begun submitting documentation to the regulator to resume production gradually.
Operational updates and arbitration
At Atlanta, the company is advancing with equipment commissioning aboard the FPSO, with no production stoppage planned. Meanwhile, Manati production normalized after platform adjustments earlier in the month.
The report also referenced the ongoing Papa-Terra arbitration between Nova Tecnica Energy (NTE) and 3R Offshore, Brava’s subsidiary. The arbitral tribunal has provisionally ruled that NTE must cover its share of consortium expenses until a final decision, expected in 2026.
Diversified portfolio
Brava operates the Potiguar, Recôncavo, Papa-Terra, Atlanta, and Peroá assets, and holds minority stakes in Pescada (35%), Manati (45%), and Parque das Conchas (23%), operated by Shell.
Read more: Pre-salt Output Hits Record High as Brazil Reaches 5.1 Million Barrels a Day
Brava Energia Posts Net Income of R$120.7 Million, Impacted by One-Off Financial Expense
Leave a Reply