Page 10 - LatAmOil Week 01 2022

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The Manati field is located in the Camamu basin (Image: Enauta Energia)

Enauta’s planned sale of Manati

stake to Gas Bridge falls through

BRAZIL’S Enauta Energia is not moving for- and value creation of Manati, Enauta will begin
ward with its previously announced plan to sell assessing this opportunity,” it said.
its 45% stake in Manati, a natural gas field in the Enauta is the largest shareholder in Manati,
Camamu basin offshore Bahia State. with a stake of 45%, while the remaining equity
In a statement, the company reported that is divided between Brazil’s national oil com-
it had called off the transaction because Gas pany (NOC) Petrobras, with 35%; PetroRio, a
Bridge, the Brazilian independent with which Brazilian independent, with 10%; and Canada’s
it signed an agreement in August 2020, had GeoPark, with 10%. Gas Bridge has been trying
not been able to meet its commitments by the to acquire the stakes now held by GeoPark and
stated deadline of December 31, 2021. As such, PetroRio, while Petrobras has slated its own
Enauta has opted to retain the minority stake in stake for sale.
Manati in its portfolio for the sake of improving Manati, one of Brazil’s largest non-associ-
its performance in the areas of cash generation, ated gas fields, was discovered in 2000 and has
revenue diversification and carbon emissions been in production since 2007. The field holds
reduction, it said. 3.9bn cubic metres of gas in proven and prob-
Enauta did not say exactly which commercial able reserves and also contains gas condensate.
or regulatory conditions of the sale Gas Bridge It uses subsea lines to send gas to PMNT-1, a
had been unable to meet. However, it noted that fixed production platform at a shallow-water
the other company was still interested in Manati. site about 10 km from shore. At PMNT-1, gas
Gas Bridge has proposed to enter into nego- from Manati is transferred into a 36-km pipeline
tiations for the stake in the field, it explained, that takes it to an onshore compressor station
provided that it can acquire the stakes of other and then loads it into another 89-km pipeline for
shareholders. “Interested in maximising the use delivery to a processing plant near Salvador. ™

ARGENTINA
Argentina OKs 3 offshore seismic surveys

ARGENTINA’S government has given YPF, the Energy Secretary Dario Martinez said Janu-
national oil company (NOC), and its partners a ary 3 that Buenos Aires had approved the com-
green light to proceed with seismic work at three panies’ environmental impact statements for the
offshore blocks in the South Atlantic. CAN 100, CAN 108 and CAN 114 licence areas.

P10 www. NEWSBASE .com Week 01 06•January•2022