Brava Energia Awards $200M Equipment Supply Contracts for Brazil Offshore Fields
November 26, 2024
Brava Energia has signed contracts, worth approximately $200 million, for the integrated campaign in Atlanta and Papa-Terra fields, with an option to develop Malombe through a tieback to Peroa, offshore Brazil.
The campaign will begin in the fourth quarter of 2025, with the first well connections expected in 2026, Brava Energia said.
The campaign will consist of drilling and interconnection of two wells in Atlanta field and two wells in Papa-Terra field, with the possibility of drilling a well in Malombe, for which the final investment decision is expected in the second quarter of 2025.
As already reported, Brava Energia awarded a contract to Constellation for the Lone Sar rig, which will be used for drilling and completion of four wells, with the possibility of a fifth well to be defined by the company.
Brava Energia will acquire two subsea trees for the Atlanta field from OneSubsea, while Papa-Terra and Malombe already have such equipment available.
Baker Hughes has been tasked with providing subsea lines and risers for Atlanta wells, with an option for Malombe tieback, while the Papa-Terra wells will use existing lines.
The value of the contracts, for the first four wells, is approximately $200 million (or around $ 147 million, considering 80% in Atlanta and 62.5% in Papa-Terra), according to Brava Energia.
“The signing of the contracts is an important step in the development of the Company's projects and ensures the availability of essential equipment and services to increase the recovery factor of its main offshore fields.
“Finally, Brava reinforces its commitment to keep its investors and the market in general duly informed, in line with the best corporate governance practices and in strict compliance with current legislation,” Brava Energia said.
