Reuters, 07/11/2012
BRASILIA, July 11 (Reuters) – Oil companies are finding signs of natural gas in all the wells drilled in Brazil’s Sao Francisco Basin, an onshore petroleum frontier in the country’s Minas Gerais state, Magda Chambriard, director-general of Brazil’s petroleum regulator, ANP, said Wednesday.
There are “no dry holes” in the Sao Francisco Basin, Chambriard said during a Senate hearing in Brasilia. “They all show signs of gas.”
Development of gas in Minas Gerais could reduce energy costs for Brazil’s most important mining region and a key Brazilian manufacturing and agricultural state, Cia. Energetica de Minas Gerais, or Cemig , one of Brazil’s largest utilities and the company that controls natural gas distribution in the state, said in June.
