Petrobras in continuation of the communications released on 09/08/2021 and due to the non-completion of the acquisition of the FPSO Cidade de Santos by Enauta Energia (as per the decision communicated by that company on 07/01/2024) informs that on 12/21/2024 it notified Brava Energia (controlling company of Enauta Energia) about its decision to terminate the contract for the transfer of its entire stake in the Uruguá and Tambaú fields both located in deep waters in the post-salt layer of the Santos Basin. Petrobras announces termination of divestment contract for Uruguá and Tambaú fields Photo: FPSO Cidade de Santos operating in the Uruguá Field The closing of the transaction was conditioned the amount paid as a deposit on 12/21/2023 will be retained by Petrobras.  Petrobras maintains a 100% stake in the Uruguá and Tambaú fields and will evaluate the appropriate alternatives for managing the asset Original announcement link A global information service for upstream oil and gas opportunities - divestitures The energy-pedia databank contains links to information on the world financial and energy markets, including share prices, oil and gas prices and the global stock exchanges. 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Subscribe to the FREEenergy-pedia Daily NewsletterSubscribe Brazilian oil and gas player Brava Energia has confirmed its acquisition of oil and gas fields and associated infrastructure off the coast of Brazil cannot be completed with the country’s state-owned energy giant Petrobras as a precedent condition for the closing of the sale was not satisfied In December 2023, Enauta, now Brava Energia, disclosed a contract valued at $48.5 million with $7.27 million paid on signing which MODEC operates in the Uruguá and Tambaú fields The FPSO acquisition was linked to the Brazilian firm’s deal with Petrobras for the Uruguá and Tambaú oil and gas fields in the Santos Basin and a 178-kilometer natural gas pipeline connecting the production platform to the Mexilhão field’s natural gas infrastructure The company confirmed the contract termination with MODEC in July 2024 regarding the procurement of the FPSO Cidade de Santos expecting a 50% reimbursement of the amount disbursed at signing Given its move to cut short the process for the FPSO purchase and end the deal the Brazilian player engaged in discussions with Petrobras to terminate the acquisition process for the fields and associated infrastructure Petrobras has notified the firm of its decision to terminate the contract for the transfer of its entire stake in the Uruguá and Tambaú fields as the conclusion of the FPSO acquisition was a precedent condition to close the acquisition of the Uruguá and Tambaú fields Recently, Brava Energia inked a deal with PetroReconcavo to set the conditions for the latter’s acquisition of its natural gas outflow and processing infrastructure in Brazil’s Potiguar Basin Daily news and in-depth stories in your inbox The requester URL cannot be found in our server. If you followed a broken URL please send an email to catholicna@catholicna.com so we can solve the problem. Click here to return to the homepage CNA is a service of EWTN News, Inc. Brazilian oil and gas player Enauta has decided to terminate the contract for the acquisition of the FPSO Cidade de Santos with Japanese floater expert Modec Enauta signed a deal with Modec to buy the FPSO in December 2023 for $48.5m with $7.275m paid on signing while the outstanding balance was supposed to be paid upon closing The company received 50% of the amount paid upon signing after the deal was cancelled The FPSO Cidade de Santos currently works on the Uruguá and Tambaú fields in the Santos Basin and is operated by Modec The platform has 25,000 barrels of oil and 10m cu m of gas per day in production capacity and 700,000 barrels of crude inventory The acquisition of the unit was linked to Enauta agreeing to buy the Uruguá and Tambaú fields and the natural gas pipeline from these fields to Mexilhão field where it connects to the Route 1 pipeline from operator Petrobras for up to $35m The company said on Monday that it is in discussions with Petrobras regarding the implications of its decision not to buy the FPSO Enauta stated that the acquisition of the assets was an alternative to decommissioning with the prospect of extending their productive life The Uruguá and Tambaú fields are not key Petrobras assets as they account for less than 1% of the production operated by Petrobras The fields are located in the northern portion of the Santos Basin between 140 and 160 km off the coast of the state of Rio de Janeiro in water depths ranging from 1,000 to 1,500 meters Don't have an account? Brazilian oil and gas player Enauta has signed a contract with compatriot oil and gas giant Petrobras for the acquisition of oil and gas fields in the Santos Basin off Brazil and natural gas pipeline infrastructure The company is also set to acquire the FPSO operating in the fields Enauta is acquiring 100% of offshore oil and gas fields Uruguá and Tambaú and a 178-kilometer natural gas pipeline infrastructure connecting the production platform to the Mexilhão field natural gas infrastructure $3 million upon signing and $7 million upon closing and up to $25 million contingent on events related to the fields’ development and future oil price The fields’ production is processed through platform FPSO Cidade de Santos which has a capacity of 25 thousand barrels of oil and 10 million cubic meters of natural gas per day Enauta reported that it had signed a contract to acquire FPSO Cidade de Santos platform which Modec operates in the Uruguá and Tambaú fields with $7.275 million paid on signing and the outstanding balance paid upon closing has been leased on a charter contract to Petrobras for 13 years since 2010 The platform has 25 thousand barrels of oil and 10 million cubic meters of gas per day in production capacity and 700 thousand barrels of crude inventory Transaction closing is subject to conditions precedent including the approval of Brazil’s National Agency of Petroleum Brazil’s Administrative Council for Economic Defense (CADE) Brazil’s Institute of Environment and Renewable Natural Resources To remind, Petrobras in September 2021 started the opportunity disclosure stage (teaser) for the sale of the totality of its stake in the Uruguá and Tambaú fields belonging to the BS-500 concession off the state of Rio de Janeiro located approximately 80 kilometers West of Enauta’s FPSO Atlanta location and 65 kilometers to the Oliva field currently have a concession period due by 2032 The fields produced on average 5.4 thousand barrels of oil and 353 thousand cubic meters of natural gas in 2023 and peak production of 15 thousand barrels of oil in 2015 and 2.65 million cubic meters of natural gas in 2016 average production was approximately 7.4 thousand barrels of oil equivalent per day The natural gas pipeline has 10 million cubic meters in transport capacity connecting FPSO Cidade de Santos to the Mexilhão field branch that connects to an onshore natural gas processing unit by the coast of São Paulo state The Pioneers of Offshore Engineering GustoMSC part of NOV’s Marine and Construction business is recognized for providing advanced design & engineering consultancy for mobile offshore units and reliable equipment and technical knowledge into realistic & innovative ideas The performance of new and existing jack-ups Brazilian oil and gas giant Petrobras has started the sales process for two of its operated fields located in the Santos Basin offshore Brazil Petrobras said on Wednesday it has started the opportunity disclosure stage (teaser) referring to the sale of the totality of its stake in the Uruguá and Tambaú fields The main subsequent stages of the project will be reported to the market in due course This transaction is in line with the company’s strategy of portfolio optimization as it increasingly concentrates its resources in world-class assets in deep and ultradeep waters The Uruguá and Tambaú fields belong to the BS-500 concession which was acquired through the Zero Round of the National Agency of Petroleum in water depths ranging from 1,000 to 1,500m was approximately 5 thousand bpd of oil and 918 thousand m3/day of gas Petrobras holds a 100 per cent stake in both fields The potential transaction includes the Uruguá-Mexilhão Gas Pipeline between Uruguá field and Mexilhão platform