Enauta Signs Million-Dollar Contracts for Onshore Oil and Gas Block Concessions Acquired in December

Enauta Signs Million-Dollar Contracts for the Concession of 4 Oil and Gas Blocks in the Paraná Basin. The Oil Company Invests in Diversifying Its Asset Base.

The oil company Enauta reported in a relevant fact, on the morning of this day, June 29, that it has signed the concession contracts for the oil and gas blocks won in the 2nd Cycle of the ANP’s Permanent Offering, held on December 4, 2020. The Company acquired a 30% stake in four onshore blocks PAR-T-86, PAR-T-99, PAR-T-196, and PAR-T-215, in the Paraná Basin, in partnership with Eneva.

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The acquisition of these four onshore oil blocks marks Enauta’s entry into the Paraná Basin, considered a frontier area due to the low number of exploratory activities already carried out in the region, allowing the oil company to be well-positioned to capture new business opportunities. “Enauta seized this opportunity to diversify its asset base,” said the company.

According to the statement, Enauta expects to invest approximately R$ 15 million in exploratory activities. The onshore oil blocks are located in the states of Mato Grosso do Sul and Goiás, covering approximately 11,544 km², an area larger than the entire traditional Recôncavo Basin in Bahia.

In case of discovery, the proximity to the gas consumer market would facilitate the flow of production. The consortium could also replicate the successful reservoir-to-wire (R2W) model, generating electricity from natural gas.

According to the oil company, the signing bonus for these blocks was R$ 2.1 million, and Enauta will disburse R$ 633 thousand in the coming days. The Minimum Exploratory Program (PEM) offered for 100% of the blocks was equivalent to 1,000 km of 2D seismic surveys, to be executed in up to 6 years.

Shell, Eneva and Enauta Win 2nd Cycle of the ANP’s Permanent Offer

The National Agency of Petroleum, Natural Gas and Biofuels (ANP) held the signing ceremony for the contracts of the 18 areas won in the 2nd Cycle of the Permanent Offering on June 28, including 17 exploratory blocks and one with marginal accumulations.

In total, there were seven signing companies: Shell Brasil, Eneva (ENEV3), Enauta (ENAT3), Imetame Energia Ltda., Energy Paranã Ltda., Potiguar E&P S.A., and Petroborn Oil and Gas S.A.

The public session for presenting offers for the 2nd Cycle of the Permanent Offering took place on December 4 of last year. According to ANP, R$ 56.7 million was raised in signing bonuses during the auction, and the awarded areas will generate minimum exploratory investments of around R$ 160 million.

Brazil Had Record Oil Exports Last Year and Is on the Right Track, Said the Minister of Mines and Energy

The Minister of Mines and Energy, Bento Albuquerque, emphasized that the auction demonstrated that the country is on the right track regarding the oil and natural gas sector, which had record exports last year, even in a difficult year due to the COVID-19 pandemic.

“Even in the face of the largest oil crisis in decades, in this 2nd Cycle, there was interest expressed in 14 exploratory block sectors and two marginal accumulation areas. Numbers that alone represent great success. Such interest already demonstrated the attractiveness and consolidated the model of auctions in permanent offering,” said the minister.

According to the Director-General of ANP, Rodolfo Saboia, with the contracts signed today, approximately 20,000 square kilometers (km²) of exploration area will be added in six Brazilian sedimentary basins, an area nearly the size of the state of Sergipe. “This means a 10% increase in granted exploratory area,” he said.

Saboia further emphasized that the signed contracts will have positive impacts at the regional level. “I would like to highlight, for example, the four blocks awarded in the new exploratory frontier in the Paraná Basin, which may bring commercial production of hydrocarbons for the first time in the Central-West Region, benefiting from job generation, income, and royalties.