Atlanta Field Early Production System by 2025

Today, 01/19, we signed the extension of the charter and Operation & Maintenance (O&M) contracts of the FPSO Petrojarl I for the Atlanta Field Early Production System (“EPS”).

 

The contracts will have an additional duration of up to two years, changing their expiration date from May 2023 to May 2025. The cost for adapting the unit will be $30 million.

 

The extension is conditional on obtaining a DNV (Det Norske Veritas) Certificate, to be issued before the end of the current contract.

 

“This new deadline promotes the operational continuity of the Atlanta Field and may allow the temporary and simultaneous operation of the SPA and the Definitive System, if sanctioned, optimizing the time to transfer wells from FPSO Petrojarl I to the new Definitive System FPSO. Another gain from the extension is the maintenance of Atlanta’s operational cash flow for more than a year, since production interruption between the end of the SPA and the start of operation of the SD can be avoided. In addition, the expanded water treatment capacity will reduce future constraints on the existing production plant,” commented our COO, Carlos Mastrangelo.

 

Production is scheduled to be interrupted for 35 days to perform maintenance on equipment that needs to be shut down. We are still working so that these activities are executed concurrently with the periodic shutdowns established by the Ministry of Labor, thus reducing the need for additional shutdowns.

 

The bidding process for the FPSO and other equipment for the SD of Atlanta continues as planned. Enauta is evaluating the proposals received aiming the definitive sanction of the project (Final Investment Decision – FID) in the first quarter of 2022 and the start of the SD production in mid 2024.