Brazilian oil and gas company Enauta said Friday that the production at the Manati field offshore Brazil has been interrupted due to the reduction in gas demand.
“According to Petróleo Brasileiro S.A. (Petrobras), field operator and buyer of the gas produced by Manati, this reduction is due to the supply and demand conditions of the market segments served by the gas from the Manati Field and it is a usual occurrence of the operation, of a temporary nature, with no changes to the contractual conditions,” Enauta said.
Notwithstanding the return of production, according to Petrobras, demand may remain at reduced levels throughout October.
The gas produced in Manati is fully sold to Petrobras and the financial impact of the reduction in production is limited by the obligation to purchase the minimum contracted volume (take or pay), Enauta said.
Until September 29th, the average daily production of Manati reduced by 29% when compared to August. Enauta holds a 45% interest in Manati Field, located in the Camamu Basin, Bahia coastline.