Enauta expands its operations with offshore acquisition in Brazil.

Enauta signs a contract with QatarEnergy to acquire a stake in oil fields in the Campos Basin for US$150 million.

The Brazilian oil and gas company, Enauta, signed a contract with QatarEnergy Brasil to acquire a portion of the oil fields in the Campos Basin for a value of US$150 million.

Enauta plans to acquire the entire 23% stake held by QatarEnergy Brasil in the Abalone, Ostra and Argonauta oil fields, belonging to Parque das Conchas. The transaction marks an important step for the company to consolidate its presence in the oil and gas market, reinforcing its operations in the Campos Basin.oil fields

Enauta announces growth in oil and gas production

In the first half of 2023, Brazilian oil and gas company Enauta recorded a significant increase in average production, reaching the mark of 28 thousand barrels of oil equivalent per day. This advance reinforces Enauta's position as one of the main companies in the sector in the country, consolidating its role as an important player in the oil and gas industry.

Billion-dollar transaction reinforces Enauta’s presence in the market

Enauta's recent transaction involving acquisition de oil fields and gas in Santos Basin e infrastructure de pipelines of natural gas represents an important milestone for the company. With a total value of US$150 million, this strategic initiative reinforces Enauta's commitment to expanding its operations and strengthening its presence in the oil and gas sector.

Portfolio Strategy and Risk-Adjusted Return on Capital

Enauta highlighted that the transaction is aligned with its portfolio strategy, guaranteeing a risk-adjusted return on capital. This approach reflects the company's commitment to seeking growth options and capital allocation efficiency, aiming for sustainability and continuous growth of its operations in the market.

Enauta strengthens partnership with Brazilian giant Petrobras

The recent signing of a contract with Brazilian giant Petrobras to acquire oil and gas fields in the Santos Basin and natural gas pipeline infrastructure highlights the importance of strategic collaboration between the two companies. This partnership strengthens Enauta's position in the market, expanding its opportunities for growth and development in the oil and gas sector in Brazil.

Sustainable growth and search for efficiency

In line with its sustainable growth strategy, Enauta highlighted that Parque das Conchas, the object of the recent transaction, has competitive extraction and development costs, sharing quality properties and logistics with the Atlanta oil trading cluster. Furthermore, the company employs T of equivalent subsea production, seeking potential synergies with its expansion campaign planned for the coming years.

Conditions precedent and approval from authorities

The completion of the transaction is subject to precedent conditions, highlighting the importance of approval from the Administrative Council for Economic Defense (CADE) and the National Agency for Petroleum, Natural Gas and Biofuels (ANP), among other regulatory bodies. This stage represents a fundamental step towards the advancement of Enauta's operations, ensuring compliance with sector standards and regulations.

Source: © OFF Shore Energy