Enauta drops Brazilian FPSO acquisition bid

Enauta Participações informed MODEC of its intention to terminate the FPSO purchase agreement City of Santos.

The contract included a termination clause under which Enauta claimed 50% of the amount paid upon signing the contract (approximately $3.6 million).

City of Santoswith a storage capacity of approximately 700,000 barrels, operates in the Uruguá field. The FPSO processes oil and gas from the Uruguá and Tambaú fields in the Santos Basin off the coast of Brazil.

Enauta said it would discuss with Petrobras the implications of its decision regarding the ongoing acquisitions of Uruguá and Tambaú and the export pipeline that will transport gas to the Route 1 link in the Mexilhão oil field.