UPDATE 1-QGEP says Brazil Manati field holds 13.5 bln cubic meters of gas

miércoles 12 de agosto de 2015 19:48 GYT

(Adds additional certification data, production-potential
    RIO DE JANEIRO, Aug 12 (Reuters) - Queiroz Galvão Exploração
e Produção SA said on Wednesday that the Manati
offshore oil field in Brazil holds 13.5 billion cubic meters
(477 billion cubic feet) of proven and probable, or "P2",
natural gas reserves.
    The reserves, certified by Houston-based Gaffney, Cline
Associates, will allow production potential of 6 million cubic
meters of natural gas a day in 2015 and 2016, falling to half
that by 2020, QGEP said in a statement.
    The 13.5 billion cubic meter P2 natural gas reserve estimate
is equal to 85.2 million barrels of oil equivalent (BOE).
    The Manati field is 45 percent owned by QGEP. Brazil's
state-run oil company Petroleo Brasileiro SA owns 35
percent and is the field operator, Brazilian-Canadian oil
company Brasoil owns 10 percent and Chile's Geopark
 owns 10 percent.
    Because of maintenance and other factors, actual production
in 2015 will average about 5.5 million cubic meters a day, QGEP
    The certification, which is dated Dec. 31, 2014, came up
with the following production potential curve through 2026:
             MLN CUBIC
    2015        6.0
    2016        6.0
    2017        5.4
    2018        4.4
    2019        3.6
    2020        3.0
    2021        2.4
    2022        2.0
    2023        1.6
    2024        1.3
    2025        1.1
    2026        0.9
 Source: QGEP

 (Reporting by Jeb Blount; Editing by Ken Wills and Diane Craft)