Enauta Plans Not to Resume Sale of Atlanta Field in Santos Basin After Failed Negotiations With Australian Karoon Energy

Written by Ruth Rodrigues

Published on 17/06/2022 at 21:23

Foto: Enauta/Divulgação

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After Attempting to Sell the Atlanta Field, Located in the Santos Basin, to the Energy Company Karoon Energy at the Beginning of 2022, Enauta Revisited the Issue and Said It Does Not Plan to Resume the Process.

The oil and gas company Enauta revisited the process of selling the Atlanta Field, located in the Santos Basin in the southeast of the country, and stated this Wednesday, (06/15), that it does not intend to resume the process. The company had already conducted some negotiations with Karoon Energy at the beginning of 2022 for the concession of the field, but the agreement was not pursued, and the national company decided to set it aside.

After Failure in the Attempt to Sell the Atlanta Field to Karoon Energy, Enauta States It Has No Plans to Resume the Concession of the Site in the Santos Basin

At the beginning of 2021, the Brazilian oil and gas company Enauta began its plan to sell the Atlanta Field, announcing it had projections for the concession of the area in the Santos Basin. Throughout March 2022, the company announced it was in a round of negotiations with the energy company Karoon Energy to sell around 50% of its interest in the wells in the region.

However, about two months later, Enauta commented on the sales process again and said that Karoon Energy did not wish to extend the negotiations for the purchase of the Atlanta Field. And, this Wednesday, the Brazilian oil company revisited the incident and this time stated that it has no forecast to resume the concession process and intends to maintain its stake in the Atlanta Field as it is for now.

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Atlanta Field Has Strong Oil Production Potential in the Santos Basin and Company Should Take Advantage of Production Capacity After Sale Process Failure

Although the national oil company was invested in selling the Atlanta Field to Karoon Energy, the failure in the process may have opened the company’s eyes to production at the site. This is because the region, located in block BS-4 in the Santos Basin, at a water depth of 1,500 meters, has been producing since 2018 through a Early Production System (EPS), consisting of three connected wells to the FPSO Petrojarl I and has strong expansion capacity.

Furthermore, the agreements for the block were signed in January 2022 with Altera to extend the charter, operation, and maintenance of this FPSO for an additional duration of up to two years. Thus, production at the Atlanta Field should remain Enauta’s main focus over the next few years, as the site has significant importance in the Brazilian oil and gas landscape.

Finally, the company also commented on another sales process, setting aside that of Karoon Energy, and stated that it will maintain its interest in the Manati gas field outside Brazil, as the conditions for the previously announced sale to Gas Bridge were not met.

Enauta Plans Not to Resume Sale of Atlanta Field in Santos Basin After Failed Negotiations With Australian Karoon Energy

After Attempting to Sell the Atlanta Field, Located in the Santos Basin, to the Energy Company Karoon Energy at the Beginning of 2022, Enauta Revisited the Issue and Said It Does Not Plan to Resume the Process.

After Failure in the Attempt to Sell the Atlanta Field to Karoon Energy, Enauta States It Has No Plans to Resume the Concession of the Site in the Santos Basin

Atlanta Field Has Strong Oil Production Potential in the Santos Basin and Company Should Take Advantage of Production Capacity After Sale Process Failure

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Enauta Plans Not to Resume Sale of Atlanta Field in Santos Basin After Failed Negotiations With Australian Karoon Energy

After Attempting to Sell the Atlanta Field, Located in the Santos Basin, to the Energy Company Karoon Energy at the Beginning of 2022, Enauta Revisited the Issue and Said It Does Not Plan to Resume the Process.

After Failure in the Attempt to Sell the Atlanta Field to Karoon Energy, Enauta States It Has No Plans to Resume the Concession of the Site in the Santos Basin

Atlanta Field Has Strong Oil Production Potential in the Santos Basin and Company Should Take Advantage of Production Capacity After Sale Process Failure

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