Brazil’s National Petroleum Agency President Haroldo Lima is talking about a 33 billion barrel offshore oil find (not Tupi another find) deep-water exploration area off the coast of Rio de Janeiro.
According to the ANP director, the field, temporarily named “Sugar Loaf,” in reference to Rio’s landmark, would be five times larger than Tupi, the giant field discovered in November 2007.
Tupi is regarded as the largest oil and gas reserve ever found in Brazil, bearing an estimated volume of 5-8 billion barrels of light oil. Tupi could have over ten billion barrels of oil in place.
Petrobras’ press office has not confirmed the discovery yet, but informed that the Sugar Loaf field is located in block BMS-9 of the Santos Basin, west
On January 21, 2008, Petrobras announced the discovery of Jupiter, a huge oil field which could equal the Tupi oil field. It is located 37 km (23 mi) from Tupi, 5,100 m (16,730 ft) below the Atlantic Ocean, 290 km (180 mi) from Rio de Janeiro
Carioca remained hidden from explorers until recently because energy companies lacked the technology to assess prospects obscured by undersea salt formations.
“Salt is difficult to see through for a geologist because salt absorbs seismic energy,” Gibson said in an interview today. “Also, a decade ago the physical technology didn’t exist that would even enable you to drill in water that deep.”
Petrobras recently created a division to coordinate all exploration projects off the southeast coast, given its potentially large reserves.
“We haven’t seen any discoveries that large in decades because we’ve punched enough holes in the Earth that we already know where most of the big fields are,” said Gibson, president of Butte, Montana-based Gibson Consulting.
Carioca is 273 kilometers (170 miles) off the Brazilian coast in water more than 2,000 meters deep.
The Brazil finds could be North Sea oil size finds.