Barra Energia announces contract for the floating production unit (FPSO) for the Atlanta Field

17/12/2014

Barra Energia do Brasil Petróleo e Gás Ltda, a member of the consortium developing the Atlanta Field, announced today the execution of the charter and operation contract for the floating, production, storage and offloading unit (FPSO) Petrojarl I, owned by Teekay Offshore Partners L.P.

The post-salt Atlanta Field is located in Block BS-4 of Santos Basin, at approximately 185km from shore and water depth of 1,500m. Barra Energia holds a 30% interest in the consortium that also includes Queiroz Galvão Exploração e Produção S.A., project operator with a 30% participation, and OGX Petróleo e Gás S.A. with the remainder 40% interest.

The FPSO contract is a significant milestone in the Atlanta Field development, which will be brought onstream through an Early Production System, as provided for in the Field Development Plan approved by ANP. The production unit will be customized to a process capacity of 30kb/day and storage capacity of 180k barrels, as required for this early production phase. The contract duration will be five years and the arrival of the unit on location is expected in 14 months from contract signature.

First oil is expected to occur around mid 2016. During the early phase production is expected to reach 30kb/day from up to three production wells. Two of these wells have already been drilled and tested, with results in upper range of productivity expectations, equipped with a wet Christmas tree and pump and are ready to be brought onstream.

During the subsequent phase, when a Definitive Systems will be installed from 2019, the field production will progressively increase to approximately 75kb/day.

For additional information, please contact Barra Energia’s Institutional Relations Manager:

Danilo de Luca
Phone: (021) 3037 2772 
E-mail: danilo.deluca@barraenergia.com.br

About Barra Energia

Barra Energia do Brasil Petróleo e Gás Ltda is a Brazilian company focused on exploration and production of oil and natural gas in the Brazilian sedimentary basins. The company is led by well qualified professionals with extensive experience in Brazil and abroad and principally funded by the private equity firms First Reserve and Riverstone. The main focus of the company is the offshore Santos and Campos basins, both in the pre and post salt reservoirs.