After the approval of the corporate guarantee modality as a financial guarantee instrument for the decommissioning of the Atlanta Field, the National Oil, Gas and Biofuels Agency (ANP) signed, on Friday (25), the addendum to the Concession Agreement that concludes the transfer of the 50% stake of Barra Energia to Enauta.
From the signing date on, we recognizes Atlanta’s full results in our financial statements, compared to the 50% stake previously held.
The oil production reported by the Company will increase from approximately 9,000 to 18,000 barrels of oil per day immediately.
Currently, the Atlanta Field operates by means of two wells. In the coming weeks, a third well will resume operations achieving nearly 22,500 barrels of oil per day, which will represent an all-time high oil production for Enauta.
Additionally, activities are underway to expand the water treatment capacity of the FPSO and increase oil production, with the first phase expected to be concluded by the end of this year. Furthermore, Enauta is evaluating the possibility of anticipating the drilling of the fourth well in the Field.
The amount of US$ 43.9 million due by Barra Energia to Enauta Energia, regarding the future abandonment of operations for the three wells and the decommissioning of existing facilities in the Atlanta Field, will be paid in June 2021.
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