Brazilian independent oil and natural gas producer Enauta entered into exclusive negotiations to sell a 50% minority stake in the offshore Atlanta Field to Australia's Karoon Energy, Enauta said March 30. The exclusive negotiating period will last until May 31, Enauta said. The potential stake sale comes as Enauta moves ahead with plans to install a definitive production system at Atlanta, a heavy oil producer in the Santos Basin that has become popular with global refiners because of the crude's low sulfur content. Atlanta's 14-16 API oil contains about 0.5% sulfur, making it ideal for processing into ULSD and bunker fuel that meets International Maritime Organization standards.
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