Brazil's OGX confirms massive natural gas find

SAO PAULO Aug 16 (Reuters) - Brazilian oil and gas start-up OGX (OGXP3.SA: Quote) confirmed on Monday statements made by its owner, billionaire Eike Batista, late last week that the company had discovered a massive natural gas field that would double national reserves.

In a statement made in response to the market regulator's query, OGX said the onshore blocks in the state of Maranhao that it had concessions to explore and develop could hold 15 trillion cubic feet of natural gas, repeating statements made by Batista on Thursday. [ID:nN12147309]

The reserves could produce 15 million cubic meters of gas a day, which is equivalent to about half of the natural gas that Brazil's imports from Bolivia.

Batista said on Thursday the numbers he put forth were his personal estimates based on preliminary seismic data. The company said it would drill further wells in the area. (Reporting by Alice Assuncao; writing by Reese Ewing; Editing by Marguerita Choy)