Pre-salt trove: Petrobras said it could not safe how much oil Block BM-S-9 holds until further tests are carried out
Petrobras shrugs off Santos claim
Brazilian giant Petrobras has said it has no conclusive estimate for recoverable reserves in Block BM-S-9, in the Santos basin, putting a damper on Spanish partner Repsol YPF's claims that the block could hold as much as 6 billion barrels of oil equivalent.
Earlier this week Repsol, which has a 25% stake in the block, said the block could hold between 2 billion and 6 billion boe.
However Petrobras, which operates the block, said it will only be able to make an accurate calculation of recoverable reserves following further investigation of the BM-S-9 discoveries.
A Repsol spokesman said the company stands by its earlier statement regarding the block's reserves.
Petrobras holds a 45% stake om BM-S-9, which hosts the Carioca and Guara finds, while BG Group holds the remaining 30%.