OREANDA-NEWS. ENEVA announced, on January 29, that its related company, Parnaiba Gas Natural S.A., informed the Agencia Nacional do Petroleo, Gas Natural e Biocombustiveis - ANP, of a natural gas find in well OGX-121, located in the PN-T-68 block, within the onshore Parnaiba Basin. The drill-stem test performed in the OGX-121 well was carried out in approximately 76 meters of net pay of gas. Further studies are needed to assess the potential of the new discovery. Well OGX-121 is located approximately 10km from the Gaviao Real Field, which currently produces 6.0 million cubic meters of natural gas per day to supply the Parnaiba I, III and IV power plants.

ENEVA does business in the power generation and trading sector and owns supplementary natural gas exploration and production businesses. Currently ENEVA has 2.4 GW gross installed capacity in operation and 524 MW more are now in construction, being thus among the largest private sector power generation companies in Brazil. ENEVA also owns stakes in onshore natural gas blocks in the Parnaiba Basin that are integrated to company own power generation plants, with an average contracted production of up to 8.4 million cubic meters per day.