INDEPENDENT 3R Petroleum's shares were down more than 6 on Tuesday after the company temporarily interrupted production at the Papa Terra field in the Campos basin. Papa Terra has been plagued with problems since state-controlled company Petrobras, the original operator, started output from the deep-water field nearly a decade ago. Production at Papa Terra peaked at 34,000 barrels per day of oil in June 2014 but reservoir issues prevented the field from reaching its full potential. Last year, a boiler equipment malfunction halted production in the cluster for months and now 3R is facing new issues in the Campos basin development. Output at Papa Terra was interrupted on 15 May due to restrictions on the offloading system of the 3R-3 floating production, storage and offloading vessel, formerly known as P-63, after the unit reached the limit of the available storage capacity of its oil tankers.
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