By Brazil Stock Guide – Eneva SA (ENEV3) said Tuesday (21) it has submitted a Declaration of Commerciality to Brazil’s oil regulator for the Colinas discovery, located in the PN-T-102A and PN-T-103 blocks in the Parnaíba Basin, in the northeastern state of Maranhão.
The company also requested that the accumulation be renamed Gaviãozinho. Once the declaration is accepted, the area may be classified as a producing field, subject to approval of a development plan by the National Agency of Petroleum, Natural Gas and Biofuels.
Under Brazilian regulation, Eneva will have up to 180 days to submit the development plan after commerciality is recognized. The document will define production strategy, investments and operational parameters for the project.
Gaviãozinho becomes Eneva’s 13th commercially declared area in the Parnaíba Basin, strengthening the company’s position as the leading onshore gas producer in the region. To assess the asset, Eneva acquired 877.5 kilometers of 2D seismic lines and drilled seven wells, including the discovery well 1-ENV-44-MA.
According to the company, estimated gas in place ranges from 2.23 billion cubic meters at the P90 level to 3.00 billion cubic meters at P50 and 3.98 billion cubic meters at P10, supporting the economic viability of the field as it moves toward the production phase.
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