Brazilian independent Enauta is considering drilling a fourth well in the domestic Atlanta field ahead of schedule, in an attempt to boost output from the Santos basin deep-water development before the beginning of full commercial production.

Enauta has been producing at Atlanta via an early production system with the Petrojarl I floating production, storage and offloading vessel, and is currently tendering for a larger FPSO with capacity to process 50,000 barrels per day of oil.

Enauta produced about 3500 bpd from a single well in Atlanta in February, as the company has been facing recurring problems with the oil heater on board the Petrojarl I, operated by Canadian contractor Altera Infrastructure.

The remaining two wells that were on stream at the time of the incident last year are expected to resume production by the end of the first half.

The FPSO to be contracted to carry out the full field development will feature between six and eight wells, including the three already drilled, but the company is now considering anticipating drilling of the fourth well.

“It will depend on the number of adaptations that will have to be made at the Petrojarl I FPSO to deal with the water management. We have yet to decide if we will drill a fourth well in Atlanta earlier than anticipated,” Enauta production director Carlos Mastrangelo told investors in a conference call.

The company expects the contracting process of the forthcoming FPSO to last between 10 and 12 months.

Chief executive Decio Oddone confirmed earlier reports that the company has a purchase option — valid for a year — of the OSX-2 FPSO, which can be sold on to the eventual winner of the Atlanta tender.

Enauta operates Atlanta with a 100% stake and is looking for partners to mitigate risks and diversify its portfolio.

The company also announced a net profit of 124 million reais ($21.9 million) for the full year of 2020, down 32.6% from 184 million reais in 2019. Net revenues were down 15% to 945.4 million reais.

Production

Eyes on output boost: Brazil's Enauta eyes new well at Santos basin deep-water oilfield