By Brazil Stock Guide – Brava Energia (BRAV3) reported a drop in production in November after a cluster of planned maintenance stoppages hit its main offshore assets, briefly interrupting the steady gains the company had seen throughout the year. Preliminary output averaged 70,3 mil boe/d, with the decline driven mostly by temporary shutdowns in fields that typically anchor Brava’s volume mix.
The slowdown concentrated in Papa-Terra, Atlanta and Parque das Conchas, where interventions limited production for part of the month. Papa-Terra was shut for ten days; Atlanta operated at reduced capacity while adjustments were made to its FPSO systems; and Parque das Conchas entered a scheduled stoppage in late November. According to Brava, all three assets began returning to normal operating levels toward month-end, with Atlanta already showing a marked rebound in the final days of the period.
Onshore operations remained comparatively stable, but the concentration of offshore downtime pulled total oil output lower. Gas volumes held firmer, though Potiguar continued to reflect the impact of ANP’s facility interdictions that began in September. Brava said authorizations for resuming production there have been granted gradually.
The company also reaffirmed the ongoing arbitration involving the Papa-Terra consortium, noting that provisional measures remain in place as the process advances. For Parque das Conchas, production data now incorporates Brava’s participation in the pre-salt Jubarte reservoir following ANP’s approval of the unitization agreement earlier this year.
Brava emphasized that the November dip was expected and tied strictly to scheduled work, adding that operations were already normalizing heading into December. The update was signed by the new CFO and Investor Relations Officer Luiz Carvalho.
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