Enauta Extends Charter Of Atlanta Field FPSO

Brazilian oil and gas company Enauta has signed agreements with Altera to extend the charter, operation, and maintenance of the Petrojarl I FPSO for the Early Production System (EPS) at the Atlanta field located offshore Brazil.

Enauta said that the agreements would have an additional duration of up to two years, and their expiration was extended from May 2023 to May 2025. The cost to adapt the unit will be $30 million.

The extension is contingent upon the issue of the DNV Certificate before the expiration of the current agreement.

“This new term promotes the operational continuity of the Atlanta Field and may enable the temporary and simultaneous operation of the EPS and the Definitive System, if approved, optimizing the transfer time of FPSO Petrojarl I wells to the new FPSO of the Definitive System,” said Carlos Mastrangelo, the Company’s COO, said.

“Another gain from the extension is the maintenance of Atlanta’s operating cash flow for more than a year, since the interruption of production between the end of the EPS and the startup of the DS may be avoided. In addition, the increase in water treatment capacity will reduce future restrictions of the existing production plant,” he added.

A 35-day production stoppage is planned so maintenance can be carried out on equipment that needs to be turned off. Enauta is working to ensure that these activities are carried out at the same time as the periodic stoppages established by the Ministry of Labor, thus reducing the need for additional downtime.

The bidding process for the FPSO and other equipment for the Definitive System of Atlanta continues as planned. Enauta is evaluating the proposals received to make its final investment decision in the first quarter of 2022 and begin production from the Definitive System in mid-2024.

To remind, the company signed a Letter of Intent last December with Malaysia’s Yinson for the provision of an FPSO vessel, which is planned to be used for the Definitive System on the Atlanta field.

Located in the Santos Basin, the Atlanta Field is operated by Enauta Energia, a wholly-owned subsidiary of Enauta, which has a 100 percent interest in this asset.

At the moment, production from the Atlanta field is stopped for inspection and repair of a production line of the FPSO Petrojarl I. Enauta was also forced to shut down the field several times during 2021.

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