Brazilian oil and gas player, Enauta, has successfully concluded the drilling and completion of another well in its drilling campaign at the Atlanta field offshore Brazil. The company has also commenced drilling activities at the last well of this campaign.

The drilling campaign began in November 2022 with the first well, 7-ATL-5H-RJS, at the Atlanta field. The estimated investment for this well, including the interconnection with the FPSO Petrojarl I, was $75 million. Enauta expected the well to begin production in the first quarter of 2023.

Enauta's plan involved drilling two additional wells and connecting them to the Full Development System (FDS) of the Atlanta field by mid-2024. This strategy aimed to optimize investments based on contracts signed in February 2022.

In March 2023, Enauta confirmed the presence of oil in a new reservoir section called Atlanta NE accumulation within the Atlanta field area, which was under development. The company had successfully concluded the drilling and logging of well 9-ATL-8DP, identifying oil with excellent petrophysical properties in a 57-meter section (measured depth).

The new well, 7-ATL-6H-RJS, at Atlanta's Phase 1 production wells, has now been completed on schedule and within budget, marking an important milestone in reducing project risks. The final well of the production wells campaign, 7-ATL-7HA-RJS, is expected to be concluded by the third quarter of 2023.

Upon completion of all the Phase 1 production wells, Enauta aims to increase the production capacity potential to 50,000 barrels of oil per day when the FPSO Atlanta begins production by mid-2024. The FPSO Petrojarl I will be replaced in 2024 by a vessel named FPSO Atlanta, currently undergoing conversion at Dubai Drydocks World, and will be operated under ABS Class following conversion. The FDS is scheduled to go online with six wells in mid-2024 and expand to ten wells by 2029.

Located in block BS-4 in the Santos Basin, at a water depth of 1,500 meters, the Atlanta field is operated by Enauta Energia, a wholly-owned subsidiary of the company, which holds a 100% interest in the asset. The field has been in production since 2018.