October 29, 2019 / 6:07 PM / 19 days ago

Brazilian oil firm Enauta looking to buy stakes in subsalt areas - CEO

RIO DE JANEIRO, Oct 29 (Reuters) - Brazilian oil firm Enauta Participações SA SA is looking to buy stakes in one or two offshore areas in the promising subsalt region, the company’s chief executive told Reuters, aiming for up to a 25% stake in a consortium drilling for the billions of barrels of oil trapped beneath a layer of salt under the ocean floor.

Enauta CEO Lincoln Guardado also said in a late Monday interview that the firm, formerly known as Queiroz Galvão Exploração e Produção, was looking to invest up to $1.5 billion to drill as many as nine wells in its Atlanta field off the Brazilian coast. He declined to discuss specific plans for the Nov. 7 bidding round for pre-salt exploration and production rights. (Reporting by Marta Nogueira in Rio de Janeiro Editing by Chizu Nomiyama)

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