Manati's Gas Reserves Could be Revised Upward

Manati Gas Field
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The natural gas reserves of Brazil's Manati field could be marked up after the analysis of the results of the first of seven production wells drilled there confirmed the presence of an unknown reservoir, federal energy company Petrobras (NYSE: PBR) said in a statement.

Manati is located in shallow waters in the Camamu-Almada basin 10km off the coast of the northeastern state of Bahia. Petrobras has a 35% interest in the field. The operator is Brazilian engineering company Queiroz Galvao with 55% while Norwegian oil company Northern Oil, now known as Norse Energy, owns a 10% interest.

Initial estimates pegged Manati reserves at 24 billion cubic meters (Bm3). The field's development project includes a well 1,656 meters below the sea floor from the PA-29 platform. The new reserves are located 150 meters above that, the statement said.

The Manati project would start supplying 3Mm3/d of natural gas from early in the second half of 2006, building up to 6Mm3/d by the end of the year. The gas would be transported onshore to the consuming centers through a 170km, 14-inch pipeline.

Norse Energy said in a separate statement that the P-13 platform, the second platform that will operate in Manati, has arrived in Brazil. The Manati consortium has also started drilling the second production well, Norse Energy said.

Manati's output would more than double the current supply in Bahia, which is declining from 6Mm3/d.

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