BRAVA ENERGIA (“BRAVA”) (B3: BRAV3) (“Company”) informs its investors and the market in general that the Company signed, in November, the main contracts for the first integrated development campaign in Atlanta and Papa-Terra, with an option to develop Malombe through a tieback (subsea connection) to Peroa. The campaign will begin in 4Q25, with the first well connections expected in 2026.
The campaign will consist of drilling and interconnection of two wells in Atlanta field and two wells in Papa-Terra field, with the possibility of drilling a well in Malombe, for which the final investment decision is expected in 2Q25. Proven technologies will be used and with top-tier partners, who were engaged as described below:
(i) Drilling Rig: contracting of the Lone Star rig from Constellation Oil Services for drilling and completion of four wells, with the possibility of a fifth well to be defined by the Company.
(ii) Subsea Tree: acquisition of two subsea trees for Atlanta field (supplier: OneSubsea). Papa-Terra and Malombe already have such equipment available.
(iii) Flexible Lines and Risers: acquisition of subsea lines and risers for Atlanta wells, with an option for Malombe tieback (supplier: Baker Hughes). The Papa-Terra wells will use existing lines.
The value of these contracts, for the first four wells, is approximately US$ 200 million (or approximately US$ 147 million, considering 80% in Atlanta and 62.5% in Papa-Terra). The disbursement schedule will be based on contractual milestones, with the following forecast: approximately 9% of the total value in 1H25, 12% in 2H25, 72% in 2026 and 7% in 1H27. The signing of the contracts is an important step in the development of the Company's projects and ensures the availability of essential equipment and services to increase the recovery factor of its main offshore fields.
Finally, Brava reinforces its commitment to keep its investors and the market in general duly informed, in line with the best corporate governance practices and in strict compliance with current legislation.
