Huge new oil discovery in Brazil

BBC ^ | 28 December 2005 | BBC

[george76]

Brazil's state-owned oil company, Petrobras, says it has discovered a huge new offshore oil field off the coast of Rio de Janeiro state.

The Papa-Terra field was found in the Campos Basin, which is already Brazil's most important oil-producing region.

Petrobras estimates it contains at least 700 million barrels of crude - about 10% of Brazil's current reserves.

The field, which is jointly operated with the US company Chevron, should start producing oil by the end of 2011.

Petrobras said the oil from the Papa-Terra field was heavier than the sweet light crude favoured by international markets, but the firm was investing $2bn in adapting its refineries to process heavy oil.

New advances

The new field is expected to help Petrobras achieve its goal of making Brazil self-sufficient in oil. Since 2003, the company has been meeting 91% of the country's needs.

The Campos Basin region already contains 40 other offshore oil fields producing more than 1.1 million barrels a day, amounting to more than 60% of Brazil's production.

[Marine_Uncle]

"The world uses 84 m/d. Gone in 8.34 days."
I'm with ya.

[festus]

sweet light crude

I guess thats an aquired taste.

[PAR35]

ANWAR is much larger!

It makes a lot of sense to wait on drilling ANWAR. When global warming melts the polar ice, it will be a lot easier to get the equipment in and the oil out.

[taxesareforever]

Call me negative but it doesn't matter. Politics trumps what is really in the best interest of the people.

[KneelBeforeZod]

credit where credit is due, art bell has had a couple people on who says there is plenty of oil left.

[Fierce Allegiance]

It makes a lot of sense to wait on drilling ANWAR. When global warming melts the polar ice, it will be a lot easier to get the equipment in and the oil out.

Truly strategic reserves.

[Caipirabob]

I need to learn Portugese.

I learned 3 different "sotaques" (accents) by meeting Brasilian women. Met a Colombiana who blew them all away. I still speak fluent Portuguese to this day, though, but I don't practice it the way I used to. Not healthy for the marriage or my health, for that matter...

[Caipirabob]

"Um Choppe, por favor" - "A cold beer, please" (pronounced "Show-pee")

"Mais um Choppe" - "One more cold beer"

"Tem uma filha?" - "Do you have a daughter?"

"O que voce 'ta fazendo com essa injetor?" - "What are you doing with that gun?"

[razorback-bert]

More likely "Running Dog Yankee Imperialists."

[Dog Gone]

Yowzwer!

I thinking ROAD TRIP!!!

[Fierce Allegiance]

ROFL!

[Tarpon]

There is a huge field off Destin Florida, we are saving it for the fish. The one in ANWR, the Alaskan wastelands, we are saving that for anything that happens to want to live in a wasteland. We made a monument out of our huge deposits of clean low sulfur coal.

U.S. energy policy for the 21st century.

[hgro]

Uma cerveja Chops por favor

[Cboldt]

It makes a lot of sense to wait on drilling ANWAR. When global warming melts the polar ice, it will be a lot easier to get the equipment in and the oil out.

LOL.

FWIW, the reverse is true. Development will happen in the winter and will stop (each year) before the snow and ice leave the region.

[Just mythoughts]

The way the liberals are protecting ANWAR I think there is a whole lot more oil under that ice than we know.

[Old Professer]

I thought it sounded like Marlon Brando doing Don Juan.

[Eric in the Ozarks]

Contango, not fandango.

[DeaconRed]

"Will we be called wetbacks?"

No drybacks, since we are going the other way.

[hinckley buzzard]

Brazil has always been on the edge of being a great democratic country, but this goal has always been just out of reach

"Brazil--Sleeping Giant on our Doorstep." Reader's Digest, circa 1959.

[JasonC]

Creative science and the fortunes it brings will out. Lesson of the last two hundred years. Not all the monarchies or aristocracies on earth stand against it, once there is one free country anywhere.