Enauta takes on ownership of Atlanta field
Published by Nicholas Woodroof,
Enauta said in a securities filing on Monday that Barra Energia do Brasil Petroleo e Gas Ltda would pay US$43.9 million to abandon three wells and decommission facilities there.
Barra Energia is leaving the joint venture in which it had a 50% stake.
The project has lifted just 1.25% of estimated reserves.
“We believe it is possible to develop a more resilient project that can create value despite a scenario of lower oil prices,” Enauta Chief Executive Decio Oddone said in the filing.
The transfer of ownership is subject to approval by oil and anti-trust regulators.
Read the latest issue of Oilfield Technology in full for free: Oilfield Technology's November/December 2020 issue
The November/December issue of Oilfield Technology begins by reviewing the state of the North Sea before moving on to cover a range of topics, including Drilling Technologies, Deepwater Operations, Flow Control.
Contributors come from Varel Energy Solutions, Gyrodata, Clariant Oil Services, Drillmec and many more.
Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/22122020/enauta-takes-on-ownership-of-atlanta-field/
You might also like
Equinor welcomes OKEA as new partner in the Statfjord area
The company has entered into an agreement to divest 28% working interest in PL037 (Statfjord area) to OKEA with an effective date 01 January 2023.