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Petrobras mum on Carioca claims



By Upstream staff 

Brazilian state-owned giant Petrobras has refused to confirm claims by the head of the country’s National Petroleum Agency (ANP), Haroldo Lima, that the sub-salt Carioca oilfield could be five times bigger than last year’s giant Tupi discovery.

Lima told reporters earlier today that the deep-water find, on the BM-S-9 Block in the Santos basin, could hold reserves of 33 billion barrels of oil equivalent. He did not say whether this figure represented total oil in place or recoverable reserves.

"It could be the world's biggest discovery in the past 30 years," he said.

The field was discovered in September last year in 2400 metres of water about 273 kilometres off the coast of Brazil’s Rio de Janeiro state.

The Tupi find, announced in November last year, is thought to hold recoverable reserves of between 5 billion and 8 billion barrels of oil equivalent, Reuters reported.

However, in a statement seeking to “clarify” Lima’s comments, Petrobras said further drilling was required to confirm the size of the deposit. The company said it was preparing to submit an assessment plan to the ANP shortly.

It said the BM-S-9 Block held two prospects, of which the discovery well had tested only the larger. A second well to test the smaller prospect had yet to reach the target formation.

Petrobras said it planned further drilling, formation tests and geological studies on the block.

“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,” the company said in its statement.

Petrobras operates BM-S-9 with a 45% stake on behalf of consortium partners BG Group (30%) and Repsol-YPF (25%).


Tuesday, 15 April, 2008, 00:52 GMT  | last updated: Tuesday, 15 April, 2008, 08:02 GMT

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