Page 10 - LatAmOil Week 04 2022

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Enauta set to buy second FPSO for Atlanta

THE Brazilian independent Enauta Partic- allow the project to have a low break-even [cost]
ipações has struck a deal on the purchase of a and attractive returns. If we are successful in
floating production, storage and off-loading sanctioning the project, Atlanta’s production
(FPSO) unit for its Definitive System (DS) pro- will reach around 50,000 barrels per day [bpd]
ject at the Atlanta offshore oilfield in the Santos of oil as of 2024, creating substantial value for
basin. our shareholders.”
In a statement dated January 24, Enauta Enauta is currently the only shareholder in
explained that it had entered into an agreement the Atlanta field, which lies within a licence area
through an indirect subsidiary to purchase a ves- known as Block BS-4. It completed the acqui-
sel known as the OSX-2 from Malaysia’s Yinson sition of a 50% stake from its former partner –
Holdings. It did not divulge all the details of the Barra Energia, another Brazilian independent
deal, saying that completion of the transaction – last year.
would be contingent upon meeting certain con- Atlanta lies in the shallow-water section of
tractual conditions. If these terms are upheld, it the Santos basin off Brazil’s south-eastern coast,
said, the parties hope to finalise the sale before and it is believed to hold around 1.3bn barrels of
the end of March. oil in place (OIP). Enauta is already using one
The Brazilian firm signed a memorandum of FPSO, a vessel known as the Petrojarl, to develop
understanding (MoU) with Yinson in August the field. It has said it wants to expand the site’s
2021 that gave it an exclusive option to purchase production system by drilling additional wells
the OSX-2. The parties then inked a letter of and attaching them to another FPSO capable of
intent (LoI) related to detailed engineering and handling 50,000 bpd of oil. ™
long-lead item commitments related to the ves-
sel the following December.
The latter document stated that Enauta was
considering acquiring an adapted FPSO from
Yinson. It put the cost of acquiring the unit and
adapting it under an engineering, procurement,
construction and installation (EPCI) contract
that included a warranty and a 24-month opera-
tions and maintenance (O&M) period at around
$500mn.
Décio Oddone, the CEO of Enauta,
expressed satisfaction with the new agree-
ment. “The acquisition of [the] FPSO is another
important step towards the implementation of
the Definitive System [project at] the Atlanta
field,” he commented. “The negotiated terms Atlanta is a shallow-water oilfield in the Santos basin (Image: Enauta)

BOLIVIA
YPFB says it cannot uphold gas supply

commitments to Argentina this winter

YPFB, the national oil company (NOC) of summer and 14 mcm per day in the winter. In
Bolivia, has said it will not be able to uphold its the winter of 2021, the Bolivian NOC was able
commitment to supply neighbouring Argentina to keep its pledge, and supply volumes averaged
with 14mn cubic metres per day of natural gas 14 mcm per day. This year, though, it says it can
during the upcoming heating season. only pipe 9 mcm per day because of declining
Under its current contract with Integración production rates.
Energética SA (IEASA), a state-owned Argen- YPFB informed IEASA of its difficulties ear-
tinian oil, gas and power company, YPFB is lier this week, and the Argentinian company did
obligated to deliver 8 mcm per day of gas in the not reply immediately.

P10 www. NEWSBASE .com Week 04 27•January•2022