Manas Petroleum Corp., the Swiss-based international oil exploration and development company, stands out in its cost-sensitive approach to acquiring land positions in major oil basins around the world. The Manas strategy is to acquire and farm-out the holdings to partners, with those partners paying all costs until commercial production is undertaken. This approach allows Manas to retain substantial carried interests, maximizing potential growth while significantly reducing financial costs and risk. An additional element of the strategy is diversification, which further reduces risk.
One area of focus for the company is the exploration and development of giant hydrocarbon assets in the former Soviet Union or its satellites. Although Soviet exploration and development technologies were decades behind those of the West, their record keeping of geological results was excellent. These records indicate the existence of numerous and large un-drilled structures with potential oil. In areas where drilling did occur, such as the former Soviet Kyrgyz Republic, records show an obvious trend towards larger fields as depth increased, suggesting more large discoveries should occur as deep tests continue.
The Manas Petroleum portfolio now totals more than 5 million acres in 5 countries. In addition to the above areas, the company also has interests in Chile. Below is a list of its primary holdings.
• Kyrgyz Republic – This was the company’s first project, Central Asia’s only democracy and member of the World Trade Organization. Manas has acquired and farmed-out to Santos International Holdings Pty Ltd. 70% of its interest in 6 licenses, covering 3,152 square kilometers.
• Tajikistan – This project is adjacent to the Manas Tuzluk Prospect in the Kyrgyz Republic, and the geology is an extension of that license area.
• Albania – Manas has completed two production sharing contracts for four blocks covering roughly 3,000 square kilometers, about 80 kilometers north of Europe’s largest onshore oil field.
• Chile – Manas has a 50% interest in a consortium with Improved Petroleum Technology, a Texas based independent company, in the 6,600 square kilometer Tranquilo block in the Magallanes Basin in southern Chile.
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