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Page added on December 22, 2010

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Brazil Oil Find May Be World’s 3rd Largest

Alternative Energy

Deep-Water Area Off Rio De Janeiro Coast Could Contain As Much As 33 Billion Barrels Of Oil
Dec 2010 (AP) A deep-water exploration area off Brazil’s coast could contain as much as 33 billion barrels of oil, the head of Brazil’s National Petroleum Agency said Monday. That would make it the world’s third-largest known oil reserve.

Haroldo Lima cautioned that his information on the field off the coast of Rio de Janeiro is unofficial and needs to be confirmed. …
Brazil’s current proven oil reserves are 11.8 billion barrels, according to the U.S. Energy Department. The U.S. has 21.8 billion barrels in proven reserves.

“You’re talking about a reserve the size of total U.S. reserves,” said Tim Evans, an analyst with Citigroup Inc. in New York. “It’s a big, big number.”

If proven, the oil in the Carioca exploration area would also be five times larger than the Tupi oil field, whose estimated reserves of 8 billion barrels were announced by Petroleo Brasileiro SA in November. Petrobras also announced a blockbuster find of natural gas in February in an Atlantic Ocean field nicknamed Jupiter. …

cbsnews.com



One Comment on "Brazil Oil Find May Be World’s 3rd Largest"

  1. Yuri Hoffman on Sat, 25th Dec 2010 5:46 am 

    See Ike Batista

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