[Brazil] Atlanta Field

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escveritas
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[Brazil] Atlanta Field

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With floater giants occupied by mega-projects in Brazil and Guyana, Enauta’s invitation to tender will stir up interest among second-tier suppliers

Brazil independent Enauta has launched a tender for a floating production, storage and offloading vessel for the Atlanta development in Brazil’s prolific Santos basin.

The tender marks a trend where junior and independent operators are bringing a more diverse look to a Brazilian oil sector once dominated by state giant Petrobras and, with floater giants SBM Offshore and Modec engaged with a glut of large-scale projects, the Atlanta tender is seen as an opportunity for second-tier players.

Enauta has already used an early production system (EPS) on Atlanta and recently sanctioned a long-term development plan that will feature an FPSO with capacity to process 50,000 barrels per day of heavy crude.

The floater will be connected to between six and eight horizontal production wells.

Three of these are already connected to the Petrojarl I FPSO, the unit that has been carrying out the EPS.

An earlier version of the development plan called for 12 production wells, connected to an FPSO with the capacity for 80,000 barrels per day.

Enauta engaged in a detailed review of the proposed field development after the withdrawal of former partner Barra Energia.

The review resulted in a decision to go ahead with the full-scale development, but only after streamlining the economics.

Enauta said its updated development plan will increase the economic resilience of the project due to a “significant reduction” in capital expenditure.

Enauta said it has acquired a purchase option on an unused FPSO suitable for adaptation — valid for 12 months —and can sell this on to the eventual winner of the Atlanta tender.

OSX floater

Sources consulted by Upstream suggested that the vessel in question is the OSX-2, which has been warm-stacked near Karimunbesar Island in the Singapore Strait since 2015, following the collapse of OGX, a unit of collapsed Brazilian conglomerate EBX.

With crude-processing capacity for 100,000 bpd, the OSX-2 was originally built by SBM Offshore with specifications for relatively heavy crudes in Brazil’s Campos basin, and is, one industry source said, “well-preserved and in ongoing hot lay-up.”

The OSX-2 had also been considered among BP’s options for developing the Palas-Astraea-Juno (PAJ) project off Angola.

In a stock market filing, Enauta stated that the contracting process will now take between 10 and 12 months to be concluded.

A pairing between Brazil’s Ocyan and Aberdeen-based Altera Infrastructure has been quoted as an early favourite in the new tender, with Oslo-listed BW Offshore seen as another strong candidate.

“We are starting the bidding process with full confidence in the resilience of our project,” said Carlos Mastrangelo, production director with Enauta.

“The EPS brought us relevant information to reduce uncertainties when implementing the (full development system), which will be developed utilising only well-known technologies.”

Enauta recently resumed production from the Atlanta EPS after three months of interruptions due to faults with one of the oil-heating systems on board the Petrojarl I FPSO.

The well in question resumed production at a rate of more than 10,000 barrels per day.

A second well is due back on line at the end of March, and a third in the middle of this year.

The Petrojarl I FPSO is owned and operated by Aberdeen-based Altera Infrastructure.

Atlanta has an estimated 2 billion barrels of oil in place, but the crude has a gravity of 14 degrees API and the field sits in 1500 metres of water.

Reserves are estimated at 112 million barrels of oil equivalent on a proven and probable basis.
escveritas
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Re: [Brazil] Atlanta Field

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Continuing the news released on November 3 and 30, 2020, we communicate the celebration of the agreement with Barra Energia to acquire 100% of the working interest in Block BS-4, where the Atlanta Field is located.

The transfer of ownership from Barra Energia to Enauta Energia is subject to approval by the National Agency for Petroleum, Natural Gas and Biofuels (ANP) and Brazil’s Antitrust Agency (CADE), and to additional usual conditions. After approval from ANP, Barra Energia will transfer US$ 43.9 million to the Enauta Energia related to the abandonment operations of the three wells and decommissioning of existing facilities at the Field.

“Atlanta has 1.3 billion barrels of oil in place, of which only 1.25% has been produced so far. We made this decision because we believe it is possible to develop a more resilient project that can create value, despite a scenario of lower oil prices,” commented Décio Oddone, our CEO.

In line with the strategy to diversify its portfolio, Enauta Energia will seek new partners to develop the Field and commence the bidding process for FPSO freight operations, a key stage for the project’s approval.
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Re: [Brazil] Atlanta Field

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ENAUTA REACHES 18 MILLION BARRELS PRODUCED IN THE ATLANTA FIELD

Number is equivalent to less than 2% of the total oil barrels of Atlanta

This Monday (26/07), the Atlanta Field reaches the expressive mark of 18 million barrels (bbl) produced. Located in Block BS-4, the Atlanta Field began production in May 2018.

With a water depth of 1,550 meters (ultra-deep water), the combination of different technologies in an innovative arrangement was required to enable the lifting of heavy oil, with low sulfur content, to the FPSO. This oil meets the recommendations of the IMO 2020 – international regulation that determines the reduction of sulfur dioxide emissions – and has excellent acceptance in the international market. Due to these advantages, our production from the Atlanta Field has been marketed at refineries at a premium in relation to the Brent price.

After more than three years of production, we are working to stabilize the production of the Early Production System (SPA), which has three producing wells. Today, the Atlanta Field produces through two wells. In August, production is expected to resume from the third well in the SPA.

In March of this year, the FPSO bidding process for the Full Development System was started, considering an FPSO with the capacity to process 50,000 bbl per day, to which six to eight producing wells will be connected, three of which are already in operation in the Early Production System. It is estimated that the completion of the process will take ten to 12 months from this date, in the first quarter of 2022.

As an independent oil and gas company committed to the ESG agenda, between 2018 and 2020, we reduced CO2/barrel emissions produced in the Atlanta Field by 28% – below the industry average for all of South America.
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