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Manati Field continues with Enauta

01/04/2022 | 12h55
Manati Field continues with Enauta
Divulgation Divulgation

Enauta informs that the conditions precedent necessary for the conclusion of the sale of the Company's interest in Manati Field were not met.

As per the Material Fact disclosed on August 16, 2020, Enauta Energia entered into a contract with Gas Bridge for the sale of its 45% stake in the Field.

The transaction was subject to a series of commercial and regulatory conditions precedent that should have been complied with by December 31, 2021. With the expiration of the term, the Company chose not to extend the term to comply with the precedent conditions and maintain a active important for cash generation, revenue diversification and improvement of the carbon footprint.

Gas Bridge S.A. proposed entering into negotiations with Enauta for a possible association between the companies in the implementation of a natural gas storage project for Manati, if it is successful in acquiring the participation of other partners in the Field. Enauta, interested in maximizing the use and generation of value from Manati, will start an evaluation of this opportunity.

The Manati Field is one of the largest gas fields in Brazil and is located in the Camamu Basin, off the coast of Bahia.

Font: T&B Petroleum/Press Office
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