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Monday, 06 October, 2008, 12:40 GMT | more prices >>

Hopes rise as Carioca hints at riches



By Upstream staff 

Spain's Repsol YPF said a "significant" new oilfield - Carioca - has been found in Petrobras-operated Block BM-S-9, in the Campos basin off Brazil, although it is believed it may take up to a year before a firm reserves figure for the field is available.

The announcement, reported by Forbes, confirms a story published in Madrid-based newspaper Expansion.

Expansion's report claimed that Carioca could be as big a find as Albacora Leste, which produces about 180,000 barrels per day.

The block is managed by a consortium led by Brazil's Petrobras with a 45% stake, BG Group with 30% and Repsol with 25%.

Carioca lies 273 kilometres off the coast of Sao Paulo in water depths of 2140 metres.

Repsol said initial tests flowed at about 2900 barrels of oil per day and 57,000 cubic metres of gas per day.


Monday, 10 September, 2007, 12:26 GMT  | last updated: Monday, 10 September, 2007, 13:15 GMT

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