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NPA: Brazil finds a new huge oil field, PETROBRAS clarifies
CARACAS
Petroleumworld.com, April 15, 2008
The head of Brazil's National Oil Agency NPA, Haroldo Lima, said Monday, that the country has discovered a new offshore oil field that could prove to be "the third biggest field in the world." It could be the biggest discovery in the last 30 years," Lima told a conference, according to Brazilian media.
The new discovery "could have reserves five times bigger than those of Tupi," Lima said.
" But nothing is confirmed," he cautioned, explaining his information was "unofficial."Petrobras clarifies and said that there is a need for confirmation, it was too early to say how much oil the field might contain and that more investments are required to drill new wells, an that an Assessment Plan is expected to be submitted to the NPA in the upcoming days.
The new find is located in thew Santos bassin and is called the Carioca Sugar Loaf area, off the southwest coast near another field called Tupi, is calculated to hold 33 billion barrels of oil.
Petrobras send out a press release with the following information on the issue. The consortium formed by Petrobras (45% - Operator), BG (30%), and Repsol YPF Brasil (25%) is still following its exploratory program for Block BM-S-9, in the Santos Basin. The Block is composed of two exploratory areas. Well 1-BRSA-491-SPS (1-SPS-50) was drilled in the largest of them, and resulted in the discovery announced on September 05 2007. On that occasion, the market was informed that more investments are required to drill new wells, the Assessment Plan for which is in its final preparation phase and is expected to be submitted to the NPA in the upcoming days.Following the normal exploration schedule, on March 22 2008, the Company started drilling the second well, the 1-BRSA-594-SPS (1-SPS-55), which is located in the smaller area of the block, but it has yet to reach the pre-salt layer. The ongoing exploratory activities include drilling new wells, long-duration formation tests, and new geological studies to prove the range of the discovery.
More conclusive data on the discovery’s potential will only be known after the other phases involved in the assessment process have been completed, and they will be announced to the market in a timely manner.
Story from Petroleumworld
Petroleumworld 14 04 08
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