Trafigura buying oil from Brazilian player’s Santos Basin field

Brazil’s oil and gas company Brava Energia has signed a contract with global commodity trading group Trafigura for the sale of oil produced at the former’s field in the Santos Basin offshore Brazil.

Under the contract, Trafigura will get a total of 6 million barrels of oil produced at the Atlanta field off the coast of Brazil. Brava Energia operates the field with an 80% interest, while the remaining 20% is held by Westlawn.

As explained by the Brazilian firm, the contract comes with flexible terms that allow profit sharing through cargo combinations, access to specific markets for Atlanta oil type, and competitive financing lines. The oil pricing is said to be tied to international low-sulfur bunker reference prices.

Brava Energia, which was created through a merger between Enauta and 3R Petroleum finalized in July 2024, welcomed a new floating production storage and offloading (FPSO) unit called Atlanta to the field last year. The unit replaced an older one, Petrojarl I, which worked at the field since 2018.

The new FPSO has a production capacity of 50,000 barrels of oil per day and a maximum storage capacity of 1,200,000 barrels. First oil was achieved on December 31, 2024, as confirmed by Brava on that day and by the unit’s owner Yinson Production ten days later.