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Elysian Petroleum won 122 concessions in the permanent offer for the Potiguar, Sergipe-Alagoas and Espírito Santo basins, including preliminary studies and signing bonus.
Newcomer Elysian Petroleum, a company newly created in August, it surprised by winning almost two thirds of the blocks in the permanent concession offer this Wednesday (13/12). With ambitious plans to operate in the oil and gas sector, company left more doubts than certainties about their future strategies.
The president of JMM Tech, a corporation recognized in the technological sector, he is the owner of Elysian Petroleum. A companhia committed to investing around R$12 million in signing bonuses, using its own capital, to build its exploration portfolio. Additionally, he won 122 concessions in the Potiguar, Sergipe-Alagoas and Espírito Santo basins, demonstrating his determination to establish himself as a strong presence in the oil and gas market.
Elysian Company’s Innovative Extraction Techniques
All on land, where operating costs are lower. Together, the areas will require investments of around R$400 million during the entire exploratory period.
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Error in Oil Auction
Machado guarantees that the company has enough equity, at least for the initial investment commitments, of R$80 million.
From a technical point of view, he says that the organization hired a team of consultants from the sector. The names were kept confidential.
Need to Build a Broad Portfolio to Study the Potential of Assets
When commenting on the bonuses paid, he revealed that his criteria was to present proposals with R$1 more than the minimum bonus.
'I could say I made a calculation, but that's a lie. R$50 was the minimum number [for the bonus] and I added a thousand more.
Comprehensive Range of Areas to Do Preliminary Studies
Machado justifies the high number of blocks acquired by the need to create a broad portfolio for a more in-depth study of the potential of the assets.
'We have to have a comprehensive range of areas to carry out preliminary studies and know where there may or may not be [oil]', he told journalists, after participating in this Wednesday's auction.
Introduction of New Technologies by JMM Tech in the Oil Area
'We were creating technologies for the oil and gas sector and we realized that we had the ANP auction and we had the financial means to do it and why not do it?', he responded to the question about the timing of the debut.
In the company's institutional presentation, on its official website, the company informs that it intends to adopt an extraction model that uses mobile structures, instead of traditional fixed operations bases.
New Technology in the Oil and Gas Sector
'What I do is create new technologies and that these technologies are applicable in certain sectors. This is our objective at the moment: to develop new technologies, including in partnership with universities and research centers… Most of the technologies used to extract oil are the same as 80 years ago. I believe it is possible to advance what we haven't yet done by doing things that are not very big, but focused on certain sectors', Ernani said.
The businessman did not specify which technologies these are and whether they currently supply them to any company in the oil sector.
Initial Expectations for Starting Work
The company will now go through the phase of proving the technical and economic conditions for developing the contracted exploration.
The initial expectation is that work will begin in Potiguar, the main focus of acquisitions and which already has ready infrastructure.
Qualification of Winning Companies
Asked whether new entrants will undergo any qualification to avoid adventurers, the general director of the ANP, Rodolfo Saboia, stated that all winning companies will go through a qualification process to see if they meet technical economic and financial conditions regarding the ability to apply resources predicted
'I don't see any reason, necessarily at this moment, for concern', he said.
He also mentioned that Elysian has already presented compliant guarantees and met the requirements of the notice.
Source: EPBR
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