Enauta announces that it has been informed of Yinson’s intention to purchase the FPSO Atlanta, by acquiring all the shares of AFPS B.V. – the company that owns the platform that will operate in the field of the same name, situated in the Santos Basin. When completed, the transaction will lead to a reduction of approximately US$ 100 million in the company’s net disbursements on this project.

Enauta CEO, Décio Oddone, states that, “Exercising the purchase option is an important move in reducing the risks relating to the development of the Atlanta field, while confirming how close the FPSO Atlanta is to completion, within the forecast deadlines and budget”.

The purchasing of the FPSO Atlanta reflects the AFPS B.V. valuation of US$ 465 million, on the option exercise date, of which US$ 86 million will be settled in cash and through deferred payments under the EPCI contract and US$ 379 million under a 15-year financing arrangement granted to Yinson.

Exercising the option kicks off the validity of the 15-year chartering, operation and maintenance contract, which can be extended for an additional five years. The contract has a total value of US$2 billion, over a period of 20 years, from the platform’s production start-up.

Phase 1 of the Atlanta development is expected to begin production in mid-2024, with six wells. The FPSO Atlanta has the capacity to process 50,000 barrels of oil per day and 140,000 barrels of water per day, generate 20 MW of electricity and store 1.6 million barrels of oil.