Brazilian oil and gas player Enauta has concluded the drilling and completion of another well in its drilling
programme at a field offshore Brazil. In addition, the firm has started drilling activities at the last well in this
drilling campaign.

Back in November 2022, Enauta started drilling its first well, 7-ATL-5H-RJS, in this drilling campaign at the
Atlanta field. The estimated investment for the well was $75 million – including the interconnection with the FPSO
Petrojarl I. According to the firm, the well was expected to come on stream in the first quarter of 2023.

The Brazilian company intended to drill two additional wells and connect them to the Full Development System
(FDS) of the Atlanta field, slated for mid-2024, in order to optimize investments using the contracts signed in
February 2022.

In March 2023, Enauta confirmed oil in a new reservoir section, named Atlanta NE accumulation, located within
the Atlanta field area, which is currently under development. The firm said at the time that it had concluded the
drilling and logging of well 9-ATL-8DP, identifying oil with excellent petrophysical properties at a 57-metre section
(measured depth).

While Atlanta's NE oil was originally identified in the well 9-SHEL-19D-RJS, drilled in 2006, the new well aimed to
collect additional data from the accumulation simultaneously with the drilling of Atlanta's production well 7-ATL-
7HA-RJS, which is part of the six producing wells campaign of Atlanta's Full Development System (FDS) Phase
I.

In an update on 7 August 2023, Enauta explained that it had concluded the drilling and completion of production
well 7-ATL-6H-RJS at the Atlanta field on schedule and within budget. The conclusion of well 7-ATL-7HA-RJS,
the last of the production wells planned for Atlanta's Phase 1, is expected by the third quarter of 2023.

“The conclusion of all Atlanta's Phase I production wells is an important milestone in reducing risks associated
with the project and in increasing the production capacity potential to 50,000 bbl of oil per day when FPSO
Atlanta starts production by mid-2024,” underscored the Brazilian player.

The FPSO Petrojarl I will be replaced in 2024 by a vessel named FPSO Atlanta – currently being converted at
Dubai Drydocks World – which will be deployed at the Atlanta field and operated under ABS Class, following
conversion. The FDS is expected to go online with six wells in mid-2024 and reach ten wells in 2029.

Located in block BS-4 in the Santos Basin, at a 1,500-metre water depth, the Atlanta field is operated by Enauta
Energia, a wholly-owned subsidiary of the company, which also has a 100 per cent interest in this asset. The field
has been producing since 2018.