El
Paso discovers new gas reserve in Brazil
Posted: 23 September 2003
The exploitation of gas in Santos Basin (Sao Paulo) is still yielding
good results: now the US El Paso discovered reserves in the region.
The company discovered a 6.5bil m3 initially offshore estimated
reserve. The volume is small if compared to the more than 400bil
m3 recently discovered by the Brazilian state owned oil & gas
company Patrobras in the same basin but El Paso informs the estimate
is only a preliminary.
The company currently drills a second exploitation well in the
region. El Paso is partner of Petrobras on the BS-1 block, where
it discovered a reserve and plans the construction of a pipeline
connecting it to the continent.
EL Paso has 60 per cent stake of such project.
The company has another gas discovery in Brazil, in the south of
Bahia (BM-CAL-4 with an estimate of 6bil m3).
The company believes the new discoveries will increase its assets
in Brazil, exceeding US$70mil already invested by it in the exploitation
and production areas.
The reserves discovered by El Paso amount to 12.6bil m3 of natural
gas. El Paso has stakes in 17 blocks assigned by ANP (Agencia Nacional
do Petroleo).
Posted by Richard Price,
Editor Pipeline Magazine
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