Brazilian oil and gas firm Enauta has terminated its $48.5 million acquisition deal for a floating production, storage, and offloading (FPSO) unit from Japan’s MODEC. This cancellation might hamper Enauta’s portfolio expansion plans involving the Urugu and Tamba oil and gas fields in the Santos Basin and the associated natural gas pipeline to the Mexilho fields, organized in collaboration with Petrobras. The deal previously involved a $7.275 million upfront payment, with Enauta now seeking a 50% refund from MODEC, or approximately $3.6 million. Despite this setback, Enauta continues discussions with Petrobras about the impact on the ongoing field acquisitions and advances in other strategic deals, including acquiring QatarEnergy’s stake in the Parque das Conchas oil fields and progressing its merger with 3R Petroleum.

Oil and Gas, Energy Infrastructure, Mergers and Acquisitions (M&A),Brazil, Japan, Qatar