BRAVA Energia, one of Brazil's leading independent oil and gas companies, has achieved a historic milestone for the national industry. The company was announced as the 2026 winner of the OTC Distinguished Achievement Award for Companies for developing the Definitive System of the Atlanta Field in the Santos Basin - marking the first time a Brazilian independent has received this prestigious award.

The recognition reinforces the company's values by transforming strategy into execution through technical excellence, capital discipline, and operational efficiency. "Winning the OTC Award demonstrates how technical competence and responsible management combine to create sustainable value for our shareholders and Brazil's industry," commented Richard Kovacs (pictured), BRAVA's CEO.

For BRAVA's Offshore Operations Director Carlos Travassos, the award crowns a cycle of consistent achievements: "Atlanta's development showcases BRAVA's high capability in implementing large-scale complex projects, ensuring operational resilience and expertise for our portfolio. This OTC honor is a transformative milestone that reaffirms our value-creation strategy and sends a positive message to Brazil's entire independent sector."

The award elevates BRAVA to global excellence status as the only Brazilian independent to develop a deepwater production system from the greenfield phase. The $1.2 billion Atlanta project features the FPSO Atlanta, with capacity to produce 50,000 barrels of oil per day and store 1.6 million barrels.

Presented annually by Houston's Offshore Technology Conference (OTC), the award is considered the "Oscar" of the global oil and gas industry, recognizing exceptional achievements in technological innovation, leadership, and environmental contributions in offshore development.

Innovation and Efficiency in Deep Waters
The honor reflects not just the project's scale but its technological innovation and sustainability commitment. Atlanta's Definitive System implemented cutting-edge technologies like multiphase pumps connected to dual wells and energy efficiency measures preventing over 100,000 tons of CO2 emissions during FPSO conversion.

Since first oil in December 2024, Atlanta has produced over 11.1 million barrels. Operational efficiency was demonstrated by reaching a daily production record of 45,500 barrels - nearing the unit's full capacity. The project's performance is central to BRAVA's strategy of maximizing long-term sustainable value for investors.

Technical Challenges
Located 185 km off Rio de Janeiro's coast in the Santos Basin, Atlanta is recognized as the world's deepest heavy oil field (over 1,500m water depth). The project overcame complex technical challenges including producing high-viscosity (14°API) acidic crude from a shallow reservoir in deepwater.

BRAVA's OTC victory signals a new era for Brazil's oil and gas sector, highlighting independents' role in offshore development. The Atlanta Field is operated by BRAVA in partnership with Westlawn Americas Offshore (20% interest).