PetroReconcavo is a Brazilian company with over 20 years of experience in the independent oil and gas market. One of the leaders in its field, the company specializes in the operation, development, and revitalization of mature fields located in onshore oil and gas basins.
The company is one of the pioneers in onshore operations in the country, and its business model is based on the purchase – or provision of operational services – of concessions for mature fields, which are operated efficiently. Additionally, PetroReconcavo is responsible for the revitalization and extension of the reserves of these fields for decades.
Throughout its existence, the company has consolidated itself through exclusive techniques, which include the development of new reserves in fields already in production, resulting in production with low operational costs and promoting the optimization of field recovery.
As the operator of its fields, PetroReconcavo seeks to leverage all the company's know-how to provide an increase in production. In this regard, the company aims to consistently increase production and reserves, as well as present a representative cash flow, even during cycles of low commodity prices.
With a robust and resilient team of executives, PetroReconcavo's business model is based on the capability, experience, and commitment of its representatives. Furthermore, the strategy of service verticalization and financial discipline are crucial for the company's success, recognized as one of the most comprehensive in the sector.
A specialist in the operation of onshore mature fields, PetroReconcavo is a Brazilian company founded in the late 1990s and has been operating in the independent oil and gas market since then.
In its early years, during the period from 1997 to 2003, PetroReconcavo was responsible for acquiring its first blocks, with mature fields for exploration in the Recôncavo region of Bahia, in addition to recovering production.
Operating in the Recôncavo region of Bahia since the 2000s, between 2004 and 2007, PetroReconcavo focused on acquiring more operational blocks, as well as developing all its technical operational know-how, allowing for the full exploration of onshore mature fields with great potential, combined with studies that ensured economically viable production.
The company's expansion continued in the following years, and between 2008 and 2014, PetroReconcavo sought new ways to operate within projects that included studies on water injection for secondary recovery of oil fields. In 2008, the company even acquired its own rigs, in addition to enhancing injection projects.
During 2010, the company initiated a drilling campaign using its own rig and team. After four years, 2014 marked the beginning of drilling 31 wells, which currently account for 40% of the total production of PetroReconcavo's fields.
In the period marked between 2015 and 2019, the company focused its efforts on providing a more efficient service, with the internalization of services, in addition to investing in digital transformation.
Currently, PetroReconcavo seeks to create new businesses to support its participation in projects aimed at expanding into new assets, such as the acquisition in the Potiguar basin of the first and largest onshore production hub, with 34 concessions. The hub recorded a 38% increase in oil production from these fields in the first 12 months of operation.
