Enauta Enters into Direct Negotiation for FPSO Contract for Atlanta Field

Source: www.gulfoilandgas.com 8/26/2021, Location: South America

Enauta Participações S.A. (“Enauta”) hereby informs its shareholders and the market in general that Enauta Energia S.A., a wholly owned subsidiary of the Company, signed a Memorandum of Understanding (MoU) with Yinson Holdings Berhad, through its subsidiary Yinson Acacia Ltd. (“Yinson”), for direct and exclusive negotiation of FPSO supply contracts for the Definitive System (“DS”) of the Atlanta Field.

The MoU establishes the beginning of a direct and exclusive negotiation for FPSO supply, comprising agreements for the chartering, operation and maintenance of the production unit. Yinson is an independent FPSO service provider that operates globally and operates production units in Western Africa, the Americas, Europe and Southeast Asia.

“The MoU represents an opportunity to advance relevant decisions for the success of the bidding process for Atlanta’s definitive system and allows for greater predictability of the beginning of operation and conditions of the DS of Atlanta. We have decided to move forward with Yinson, a traditional FPSO supplier that is renowned worldwide and is establishing itself in the Brazilian market. We have reached an agreement that corresponds to our expectations to deliver a safe and robust production system. Enauta is also aligned with Yinson in the implementation of solutions that minimize carbon intensity per barrel produced,” said Carlos Mastrangelo, the Company’s Chief Operating Officer.

The bidding process for the FPSO considers an unit with capacity to process 50 thousand barrels of oil per day, to which 6 to 8 producing wells will be connected, including 3 wells already in operation in the Early Production System. The bidding process considers the adaptation of an existing FPSO, which has not yet been deployed, OSX-2, made possible by an exclusive agreement with an option to purchase signed by Enauta. The bidding process for the other services and equipment necessary for the development of the DS is underway. The Company also filed a request with the Brazilian Institute of the Environment and Renewable Natural Resources (IBAMA) to obtain a preliminary license for the DS. The Company expects to make the final investment decision of the DS in early 2022 to ensure the beginning of production in mid-2024. Located in the Santos Basin, the Atlanta Field is operated by Enauta Energia S.A., a wholly owned subsidiary of the Company, which also has a 100% interest in this asset.


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