Brazil's ANP to invest $ 450 mm in geological studies

Nov 17, 2008 01:00 AM

Brazil's hydrocarbons regulator ANP plans to invest reais 1 bn ($ 450 mm) in the next five years to study onshore basins in search of new natural gas fields.
"ANP has never done geological studies of this magnitude before," ANP director Magda Chambriard said in Rio de Janeiro at the 12th Brazilian Energy Congress. The watchdog initially will perform studies starting in 2009 in five basins: Jacuibe, Parana, Parecis, Parnaiba and Sao Luis.

ANP will begin drilling statigraphic wells to learn more about rock layers.
"This will be the first time ANP will have drilled wells. However, they won't be for exploration purposes but will serve for geological knowledge," she added.

ANP will drill the first two wells in the Parnaiba and São Luis basins, according to the director.
The move is part of the government's push to safeguard domestic natural gas supplies.

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