Petrobras Oil Company said on Thursday it had discovered the biggest-ever oil field and that the country “is before the discovery of its biggest oil province, comparable to the most important oil provinces in the world.”, Itar-Tass reports
Petrobras announced a new frontier, ranging through the Espнrito Santo, Campos, and Santos Basins, in deeper horizons, and in the so-called pre-salt rocks. The volume that was discovered in the Tupi accumulation alone, which represents a small part of the new frontier, may boost Brazil’ s current 14-billion-barrel oil and gas reserves by more than 50%.
Petrobras said the formation tests in the Tupi area allowed to estimate reserves at 5 to 8 billion barrels of oil and natural gas.
Petrobras President Jose Sergio Gabrielli said Tupi may move Brazil up from the 24th to the ninth place among major oil nations.