Brazilian operator Dommo Energia, formerly known as OGPar, which emerged from bankruptcy in August 2017, agreed to sell a 30% stake in the offshore BS-4 license including Atlanta and Oliva fields to AziBras Exploracao de Petroleo e Gas (Azimuth). Dommo had a 40% interest in BS-4 and now will retain 10% when the deal is complete. BS-4 is operated by Queiroz Galvao E&P (30%) with Barra Energia also holding 30% as a partner. The board of Dommo approved the deal, which is still subject to conditions and regulatory approval, according to the company on 18 October. US based Azibras committed to US$ 33 million capital expense for the block and a US$ 30 million contingency fee as well as covering some unspecified overdue cash calls. Dommo claims the deal will improve its cash position and capital structure. Located in the post salt Santos Basin, the heavy oil Atlanta and Oliva fields are in a water depth of about 1,500m. First production from Atlanta Field is expected in first quarter 2018. The floating production, storage and offloading (FPSO) unit for Atlanta is expected to eventually produce from 10 wells. Oliva is forecast to begin production by 2021 with estimated reserves of 300-400 MMbo. OGPar disclosed on 10 May 2017 that the company owed the operating consortium for Atlanta US$ 29 million and was trying to sell its 40% stake in the project. OGPar said it was trying to divest part of its share in Atlanta in order to pay its debt and avoid intervention by the ANP in the consortium. In March operator Queiroz Galvao announced the postponement of first oil from Atlanta to 2018. The delay is due to difficulties faced by the contractor, Teekay Offshore Partners in adapting the FPSO Petrojarl I, which will be used for the early production system. OGPar previously on 21 March 2017 confirmed its intent to farm-out part of its share in Atlanta Field and its intent to do so before first oil is produced in the field in early 2018. The first production phase for Atlanta is estimated to produce between 25,000 and 30,000 bo/d with the hookup of two or three production wells for extended well testing (EWT). The productive capacity of the wells is roughly 10,000 bo/d. Shell discovered Atlanta Field in 2001. The field is expected to reach peak production in 2021 of about 76,000 bo/d. The deepwater Atlanta Field has estimated proven oil recoverable reserves of 147 MMbo with a 2P estimate of 191 MMbo and 3P estimate of 269 MMbo. 
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