In early May 2020 Petrobras disclosed plans to divest its 35% operator interest in the Manati gas Field in the Camamu-Almada Basin as part of the companyâs US$ 20-30 billion divestment program. It is one of Brazilâs largest non-associated gas fields and supplies about 20% of the gas demand in Brazilâs northeastern region. Its most recent production records show about 87 MMcfg/d in February 2020. It began producing in 2009 via the PMNT-1 platform and six wells. The decision by Petrobras to divest is well timed as Brazil is actively trying to attract new and more private operators through its Novo Mercado de Gas program. Petrobras partners with Enauta (45%), Geopark (10%), and PetroRio (10%) already and the group recently started studies for a project to use this field for Brazilâs largest underground gas storage facility. Currently production from Manati Field is sold to local distributor Bahiagas and to Petrobras, which then supplies refineries, power generators and fertilizer plants in the area. In April 2020, Petrobras mentioned that it could buy less gas from the field, due to the economic decline caused by the COVID-19 pandemic while the other partners opposed this. In March the operating group led by Petrobras began studying the technical and economic feasibility of using the field for natural gas storage in the future in order to balance steady continuous supply with variable demand. Studies by Enauta consider using the fieldâs existing infrastructure with some minor adaptations. The current compression plant installed in the field has a capacity to store 247 Bcfg but if the injection capacity is increased, storage capacity also rises. Enauta noted, âThere is no underground gas storage project of Manatiâs dimension so far in Brazil. Worldwide there are several similar projects, and this is a very common option.â The company is doing studies which could turn Manati into a gas storage field after 2021 or 2022. Brazil currently has only one underground gas storage project, in the onshore Santana field in the Reconcavo Basin. However, gas storage systems are considered important, especially in the supply of gas-fired power plants. Studies by energy planning firm EPE show Brazil would have a more flexible and reliable gas market if it had underground gas storage which would also provide operational flexibility, reduce the risk from volatile prices and increase the efficiency of the gas pipeline network. Companies such as France's Engie have shown interest in investing in this part of the Brazilian gas market.
Petrobras disclosed plans to divest its 35% operator interest in the Manati gas Field in the Camamu-Almada Basin as part of the companyâs US$ 20-30 billion divestment program.