ANOTHER 4 BILLION BARRELS IN THE PRE-SALT LAYER

ANOTHER 4 BILLION BARRELS IN THE PRE-SALT LAYER

Petrobras has announced the discovery of oil inside the area baptized as Iara, in block BM-S-11 of the pre-salt layer in Santos. The production estimate of 3 to 4 billion barrels of oil equivalent – sum of light oil and natural gas is equivalent to a third of the total oil reserves of the country, at 12.2 billion barrels. The area is next to the megafield of Tupi.

The presence of oil in Iara was discovered on August 7th and only now the size of the discovery was announced. Iara and Tupi reserves, which are located side by side, may reach 12 billion boe (barrels of oil equivalent). This means the two wells would raise by 85% the total reserves of Petrobras, which, according to the National Petroleum Agency (ANP), sum up to 13.9 billion barrels.

JB, Economy (09/10/08)