Santos basin primed for big investment
Investments worth about $600 billion will be needed to develop recent big
oil finds in the Santos basin in Brazil, said analysts at UBS.
The money needed represents a large windfall for companies that will provide
drilling rigs, ships and equipment.
The investment bank estimates reserves of over 50 bilion barrels of oil
equivalent in the fields in the Santos basin, said Reuters.
The finds are offshore in deep-water so companies selling subsea engineering
services such as Acergy, Subsea 7, Technip and Saipem, are seen as key
beneficiaries said UBS analysts.
The bank said that discovery of three large hydrocarbon fields in the Santos
basin will have a dramatic effect on demand for global oil services.
08 May 2008 16:07 GMT
| last updated:
08 May 2008 16:14 GMT
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