Middle East

Enauta maintains interests in Manatees offshore gas fields


January 5, 2022

File photo: Petrobras

Brazilian oil company Enauta has decided not to sell its shares in Brazil’s Manatees offshore oil field to Gasbridge because the conditions required to complete the sale are not met.

Enauta signed an agreement with GasBridge SA in August 2020 to sell a 45% stake in the offshore sector, which is subject to a set of commercial and regulatory conditions that must be met by December 31, 2021. ..

“With the expiration of the deadline, the company chose not to extend the deadline to meet the precedent conditions and keeps this important asset in its portfolio in terms of cash generation, revenue diversification and improved carbon dioxide emissions. We have decided to do so, “says Enauta. Said.

“GasBridge SA has proposed to negotiate with Enauta about the possibility of a business-to-business partnership to implement Manati’s natural gas storage project if it succeeds in acquiring shares in other partners in this area. We are interested in maximizing use and value creation. Manatee Enauta will begin to evaluate this opportunity. “

Located in the Kamam Basin on the coast of Bahia, the Manatees field is one of Brazil’s largest gas fields.

Petrobras holds a 35% stake, with Enauta Energia holding a 45% stake, GeoPark LTDA holding a 10% stake, and PetroRio Coral Exploração Petrolífera LTDA holding a 10% stake in the field.

The average production of the field in November was 3.42 million m3 / d.


Related:

Brazil: Resumption of production from Manatees Offshore Field (December 2021)

https://www.oedigital.com/news/493254-enauta-keeps-manati-offshore-gas-field-stake-after-deadline-lapses Enauta maintains interests in Manatees offshore gas fields

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