Start of the bidding process for the FPSO for Atlanta Field’s Full Development System

We report an important step towards for the development of the Atlanta Field. Today, March 5, we started the bidding process of the FPSO for the Full Development System (FDS).

 

We estimate that the process will be completed in 10 to 12 months. The invited companies have proven experience in developing similar projects.

 

The bidding considers an FPSO with capacity to process 50 thousand barrels of oil per day, to which 6 to 8 producing wells will be connected, including the 3 wells already in operation in the Early Production System (EPS). The new development plan, which is being analyzed by the Brazilian National Agency of Petroleum, Natural Gas and Biofuels (ANP), brings more financial resilience to the project, significantly reducing CAPEX and oil levels necessary to reach breakeven when compared with the previous plan.

 

In addition, the bidding considers the adaptation of an existing FPSO, which has never been deployed, made possible by an exclusive agreement for 12 months with an option to purchase signed by Enauta. The winning bidder will have the right to exercise this option.

 

“We are starting the bidding process very confident in the resilience of our project. The EPS brought us relevant information to reduce uncertainties when implementing the FDS, which will be developed utilizing only well-known technologies.”, says Carlos Mastrangelo, our Production & Development Officer.