QGEP discloses 2012 production guidance for the Manati Field

This Wednesday, December 5, Queiroz Galvão Exploração e Produção announced that it expects to close the year with an average daily gas output of 6 million cubic meters in the Manati Field, on the Bahia coast. The announcement was made in a meeting with market analysts in São Paulo, in partnership with the Association of Capital Market Analysts and Investment Professionals (Apimec SP).

According to Paula Costa, CFO, Manati currently generates cash of R$300 million per year to QGEP.

In October and November, output was 6 million cubic meters/day and the Company expects it to remain flat in December. At the beginning of the year, output was 5.2 million.

The Manati Field is one of the largest non-associated natural gas fields in production in Brazil, and is in operation since 2007. QGEP is a majority shareholder, with a 45% interest, and works in partnership with Petrobras 35%, the field operator, Brasoil (10%) and Panoro (10%).

Updated in  2014-01-09T11:48:20
All the dates of this page are presented in official timezone of Brasilia - Brazil.


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