American Westlawn Americas Offshore Begins Expansion Into Latin America
Houston-based Westlawn Americas Offshore, part of the Westlawn Group, is entering the Latin American oil and gas playground through a deal with Brazilian oil and gas company Enauta. Westlawn Americas Offshore has signed a sales agreement with Enauta to purchase a 20% interest in the BS-4 concession, which includes the Atlanta and Oliva fields, for $301.7 million.
This amount, which will be paid upon closing of the transaction, is subject to adjustments related to the net cash flow from the Atlanta and Oliva supply investments generated between the effective date of November 1, 2023 and the closing date of the transaction, Enauta said in a statement.
Completion of the transaction is subject to approval by investors in Enauta’s first and second series of domestic bonds and Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP).
The Atlanta field, located in the Santos Basin at a depth of 1,500 m, is operated by Enauta Energia, a 100% subsidiary of Enauta, which also has a 100% interest in the asset. Enauta is working to replace the Petrojarl I FPSO operating in the Atlanta field with the Atlanta FPSO. FPSO Atlanta recently left the Dubai shipyard for Brazilian waters.
In addition to selling a partial stake in this concession, Enauta is busy expanding its portfolio through a contract with Petrobras to acquire oil and gas fields in the Santos Basin and gas pipeline infrastructure. The Brazilian firm also intended to acquire QatarEnergy Brasil’s entire share in the oil fields comprising Parque das Conchas.
