Yinson signs MoU with Enauta for FPSO project in the Atlanta field, Brazil

by TMR / pic credit: yinson.com

YINSON Holdings Bhd through its wholly owned subsidiary Yinson Acacia Ltd has entered into a binding Memorandum of Understanding with Enauta Energia S.A. to engage in exclusive negotiations for the potential supply and charter of a floating production storage and offloading unit for the Atlanta field in the Santos Basin, Brazil.

In a filing to Bursa Malaysia today the company said the MoU is in line with Yinson’s ambitions to strengthen its presence in Brazil, which is a territory of paramount importance, and where it currently has an operations office.

“The signing of this MoU is an important milestone for both Yinson and Enauta, signifying our joint commitment to progress towards a contract award. We share a common goal with Enauta to contribute towards the advancement of Brazil’s energy industry through solutions that are as sustainable as possible,” said Yinson Group CEO Lim Chern Yuan.

Established in 1998, Enauta is one of the leading independent companies in the Exploration & Production sector in Brazil.

The Company has a strong presence in Brazil with two producing offshore assets, Atlanta and Manati field, as well as 19 exploration blocks.

Enauta is a wholly owned subsidiary of Enauta Participacoes S.A., a listed entity on the Brazilian stock exchange B3 since 2011 with a market capitalisation of RM3.0 billion, total equity of RM2.7 billion and a net cash position of RM1.5 billion as at June 2021.