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Topic: Oil and more oil in Brasil

nunoPT
VoivodFan
Member # 379

posted April 16, 2008 06:38

new discovery
http://news.bbc.co.uk/2/hi/business/7348111.stm

and more
http://openchoke.blogs.com/open_choke/2008/02/tupi-to-you-too.html

Tupi To You, Too...

Tupi is the new Brazilian oil find that has recently been upgraded from 8-12 billion barrels of oil recoverable to 30 billion barrels of oil recoverable. One field. It gets better. An acquaintance who consults for Petrobras described Tupi as his computer mouse on top of his circular conference table, and the overall structure that has not yet been assessed as his table. "It could be 500 billion to a trillion barrels". Of 30 gravity oil.

It is big enough find to cause Brazil to strongly discourage outsiders from doing any more drilling around these blocks. The Brazilian government removed 41 Exploration Blocks around Tupi from a recent sale. Petrobras holds Tupi with British BG Group and Portugals Galp Energy.

Fortunately for me, it is in 7-8,000 feet of water, and an additional 20-25,000 feet of sediments, underneath a salt canopy. That is engineering mojo. Look to Petrobras to usher in the new age of mega deep and hot drilling engineering breakthroughts while the Majors look envyingly from the sidelines. At least a million barrels a day by 2020 is what is prognosed... perhaps much more if the field is substantively bigger. The scale of the find is such that Brazil is being eyed as the Saudi's successor as the world's next swing producer.

and even more
http://www.bloomberg.com/apps/news?pid=20601086&sid=atKrFDfZT3M8&refer=news

and there's even more acording to some leaks

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Mezcalhead
VoivodFan
Member # 26

posted April 16, 2008 12:17

Here's something from the Economist on the same topic which I find interesting:

The discoveries do suggest that the gloomiest pundits are wrong to predict that the world will soon run out of oil. It is not that there are still lots of huge oil fields out there: the number of mammoth discoveries is declining, Tupi (and perhaps Carioca-Sugar Loaf and Jupiter) notwithstanding. But the new finds do illustrate how the technology with which oil firms hunt for, extract and process fossil fuels is constantly improving. Petrobras’s recent success is only possible thanks to recent advancements in seismic surveys, drilling, and offshore platforms. Other technological developments are allowing a greater proportion of the oil found around the world to be recovered and are even expanding the definition of oil, as firms conjure liquid fuel from the solid tar-sands of Canada, for example, or from coal and natural gas. Indeed, among the shares that rose in the wake of Mr Lima’s comments were those of the firms that supply Petrobras with all its clever kit.

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