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In Interview With a News Portal, Enauta’s CEO (Formerly Queiroz Galvão Óleo e Gás) Discusses Business Strategies and Details FPSO Contract for the Atlanta Field
“Billion-Dollar Investments in the Brazilian Oil and Gas Market and 60 New FPSOs by 2040 Will Be Demanded in Brazil”. The statement from the Minister of Mines and Energy, Bento Albuquerque, is one of the reasons that the Brazilian company Enauta is watching out for new business opportunities with other oil companies.
According to the minister, approximately US$ 460 billion will be invested in the oil and gas market by 2040, with the country requiring a fleet of around 60 new FPSOs by then, and approximately 600 new oil wells will be drilled.
Enauta is derived from the former Queiroz Galvão Óleo e Gás, an offshore drilling company founded in 2001 when the Brazilian oil market opened to private investments.
The company’s CEO, Lincoln Rumenos Guardado, spoke in an interview with the news portal BN Américas about the company’s business plans, market expectations, local content, and the hiring of an FPSO for the Atlanta field in the Campos Basin.
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Regarding business involving partnerships with foreign companies, the CEO stated he is watching for the arrival of foreign companies to the Brazilian market because the company’s strategy is to establish partnerships in the assets.
Initially, Enauta formed partnerships with Equinor, Total, and other companies entering the exploratory market in Brazil.
With regard to the supply chain in the country, Enauta plans to buy everything in Brazil, but the president states that the market is still not ready for the boom that is coming.
According to Guardado, even with all efforts regarding national content, the market will still need more time to react.
“The recent changes have been very positive for the industry, the new auctions will help attract investments and, therefore, more companies to Brazil. Now, the country is on the right track, we have reduced local content requirements to encourage investments in exploration and production, and this will help companies come to Brazil. We are talking about more than US$ 6 billion in investments. This is the smart way to grow the national industry”, he said.
The CEO also praised the actions of the ANP, “The old local content rules were unattainable. A good example is what the ANP is doing now, establishing that companies that buy equipment in Brazil and export it for their foreign operations also gain local content points. This is excellent and is already yielding results since some majors are buying equipment here for outside Brazil”.
Atlanta Field
The CEO of Enauta spoke about the hiring of the FPSO for the Atlanta field, “The definitive production system may be in place in the second quarter of 2022, but the final decision has not yet been made. Due to the market crisis, we need to reevaluate our development plan presented in 2012, when the barrel was around US$ 110 and now it is around US$ 60.
Before, we discussed a definitive system capable of providing 70,000 b/d of oil connected to 12 wells. Now we are evaluating something between 50,000 b/d and 70,000 b/d. Production over the next few months will help us make this decision, and we expect to launch a tender to hire the FPSO by mid-2020”.
Read Also! Bill Approved to Establish Local Content Until 2040, Fines Can Reach 100%!
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