Brazil at the center of investments

Source: Subsea World Brazil Magazine



Operator portfolios are beginning to take shape and generate opportunities nationwide


While the deep water markets in Europe and Africa remains relatively stagnant, in North and South America – driven by Brazil, Guyana and Mexico – onde can already see the first signs of recovery.


The increased activity is most noticeable among the international oil companies operating in the pre-salt layer – with some already very active in their concessions, while others are initiating their planning and contractual stages – while Petrobras is tendering for new FPSO contracts and independent operators are active in mature fields.


Mature fields broaden the opportunities


Turning to new strategic planning, Enauta is one of the independent producers that is focused on renewing its portfolio and expanding its business in Brazil.


The company recently resumed production in Atlanta, in the Santos Basin, and plans to reintegrate two other wells in the Antecipated Production System (SPA), in the second quarter of 2021. On April 8th, the company received ANP approval to assume the entire asset, where it is participating in an FPSO tendering process for the Atlanta field’s Definitive System, which whill be connected to between six and eight production wells, three of which are already in operation under the Antecipated Production System.


The company is estimating a total Capex of US$ 40 million, of which US$ 19 million will go to the Atlanta field, including investment n a fourth well. Of the US$ 18 million total investment in exploration, US$ 15 million is earmarked for the blocks in the Sergipe-Alagoas basin, as drilling of an exploratory well is expected to get under way in that region in the second half of 2021. For 2022, the company calculates total Capex of US$ 105 million. Of that total, US$ 96 million will be allocated as initial investment in subsea systems and the drilling of new wells for the Atlanta field’s Definitive System.


Enauta CEO Décio Oddone says, “Our goal is to build a portfolio with a considerable variety of opportunities and with the greatest value generation potential among the independent oil and natural gas companies operating in Brazil”.