Brazil's Petrobras, Partners Find Good Quality Oil In Carioca Field
SAO PAULO, Dec 19 (Reuters) - A consortium led by Brazil's state-controlled oil company Petróleo Brasileiro SA found good-quality oil in the sub-salt Carioca offshore field, which might have about 459 million barrels of oil equivalent in recoverable reserves.
Petrobras, as the company is known, said in a securities filing late on Thursday that the field was declared commercial and will submit the plan to develop Carioca to regulatory watchdog ANP within 180 days.
The Carioca field, which will be renamed "Lapa" by Petrobras and its partners, is located in the so-called sub-salt polygon - an offshore area half the size of Italy. It covers oil provinces that produce more than 80 percent of Brazil's output and may contain as much as 100 billion barrels of oil, according to Rio de Janeiro State University.
The consortium is formed by Petrobras, BG Group Plc and a joint venture between Spain's Repsol SA and China Petroleum and Chemical Corp , also known as Sinopec.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
Operates 34 Offshore Rigs
Manages 10 Offshore Rigs
- Exxon, Petrobras Form Alliance To Develop Oil, Gas Projects (Dec 14)
- Natural Gas In Petrobras Pipelines Up About 23% In 2017 (Dec 05)
- Petrobras CEO Says To Discuss Refining Partnership With CNPC CEO (Nov 15)
Company: BG Group more info
- Shell Mulls LNG-Hub Network as Use by Ships and Trucks Expands (Jul 11)
- Tanzania Laws Would Allow Govt to Tear Up Mining, Energy Deals (Jun 29)
- Despite Cuts, Big Oil to Expand Production into the 2020s (Sep 05)
Company: Repsol more info
- Exxon Mobil Bets on Brazil, Buys 10 Oil Blocks in Auction (Sep 28)
- Repsol Says Drilling Suspended On Vietnam Oil Block Disputed By China (Aug 02)
- China Urges Halt To Oil Drilling In Disputed South China Sea (Jul 25)
Company: Sinopec more info
- Lead a Chinese Oil Giant and Get a Fraction of Your Peers' Pay (Dec 27)
- Report: Quarter Of Oil Refineries Risk Closure Under Climate Goals (Nov 02)
- Sources: China's Sinopec Mulls US Oil Projects Ahead Of Trump's Visit (Oct 31)