Enauta said it will seek partners to develop the field and start the bidding process for FPSO charter operations

Brazilian oil company Enauta has opted to acquire an additional 50 percent stake in the Santos Basin offshore block from its partner Barra Energia after considering shutting down operations at the Atlanta Field due to its partner abandoning the asset in November. Looking for a job? 45 vacancies! Construction company Odebrecht opens selection process in RJ, SP, MG, BA, PA and PR for higher education students

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The company, formerly known as Quireoz Galvão, has agreed to take full ownership of the operating stake in Block BS-4, offshore Brazil, where the producing Atlanta field is located.

The move to Barra left Enauta to decide whether to take Barra's interest in the block or whether to proceed with the joint abandonment of the project, once the initial production system – Petrojarl I FPSO – has ceased operations.

Enauta said yesterday (22/12) that it decided to acquire Barra's stake. After regulatory approval, Barra Energia will pay $43,9 million to Enauta related to the abandonment operations of the three wells and decommissioning of existing facilities in the field.

Only 1,25% of the oil produced

Décio Oddone, CEO of Enauta, stated: “Atlanta has 1,3 billion barrels of oil, of which only 1,25% have been produced so far. We took this decision because we believe it is possible to develop a more resilient project that can create value, despite a scenario of lower oil prices. ”

Enauta said it will seek partners to develop the field and start the bidding process for FPSO charter operations, “a fundamental step for project approval.”

Teekay Petrojarl I, the field's current FPSO, spent nearly three decades working in the North Sea, before moving to Brazil, where it started production at the Atlanta field in 2018.

In an update on November 11, Enauta said it expected average daily production at the Atlanta Field of 20 barrels of oil per day for 2020 and 16 barrels of oil per day for 2021. It is not clear whether this projection still holds. , given that, on November 19, Enauta announced the “preventive suspension” of production at the Atlanta Field, after corrosion was found in some equipment that could impair functionality.

“Enauta has decided to suspend operations as a preventive measure until the doubts are definitively clarified. The Company is analyzing with technical advisors and the operator of the FPSO the possible measures and deadlines necessary for the resumption of stable and safe operations”, said the company at the time.