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Enauta Is Expected to Pocket 3 Billion Reais from the Sale of Its Entire Stake in the Manati Natural Gas Field in Bahia. However, the Amount May Change Depending on Regulatory and Commercial Conditions
Enauta Energia sold its entire stake (45%) in the Manati natural gas field, in shallow waters of the Camamu Basin in Bahia, to Gas Bridge. The announcement was made last Sunday (08/17) by Enauta. Oil Tanker Heading to Brazil Splits in Two, Spilling Nearly a Thousand Tons of Oil off the Coast of Mauritius
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The deal involves 560 million dollars, equivalent to about 3 billion reais, Enauta said, emphasizing that the amount is subject to the fulfillment of contractual conditions and “can be increased depending on certain events and regulatory and commercial conditions.”
Enauta also stated that, under the terms of the agreement, the cash flow from the Manati natural gas field will remain with the company until December 31 of this year.
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“It is estimated that all necessary acts for the completion of the contract, including the payment of the purchase price, will be carried out by December 31, 2021,” Enauta Energia added in the announcement.
The Manati natural gas field, in shallow waters of the Camamu Basin in Bahia, is one of two sources of revenue for Enauta Energia, which also operates the Atlanta field, in deep waters of the Santos Basin.
Enauta reported a consolidated net profit of R$ 127.8 million in the second quarter. The result represents a leap of 526% over the same period last year.
Even in what is considered the worst quarter of the year due to the coronavirus pandemic, the oil company managed to increase its daily production compared to the previous quarter and the same period in 2019.
Daily oil production was 14.6 thousand barrels equivalent, and gas production was 3.2 thousand barrels equivalent. In the first quarter, the volumes were 11.4 thousand and 5.7 thousand, respectively.
About Gas Bridge
Gas Bridge is a partnership created by João Carlos de Luca, former director of Petrobras and former president of IBP, Marco Tavares, founder of Gas Energy, and Esteban Papanicolau, who was leader of new business development at Nova Gas International and TransCanada Pipelines in the Southern Cone in the 90s. It marks the company’s entry into gas production assets.
Gas Bridge has also been working to bring Bolivian gas to Brazil. The company, along with Compass, part of the Cosan group, was approved by TBG in the second public call for contracting transportation capacity of Gasbol (Bolivia-Brazil Gas Pipeline).
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