Tupi Discovery Offshore Brazil Reestimated to be 30+ Billion More BOE

BG Group revealed that the total hydrocarbons initially in place on the Tupi discovery offshore Brazil has been increased.

BG Group now estimates that the discovery contains between 12 and 30 or more billion barrels of oil equivalent, which is an increase from previous estimates of 1.7 to 10 billion barrels of oil equivalent.

BG Group has a 25% interest in the Tupi discovery located in the Campos Basin.

The Tupi discovery is considered one of the biggest oil discoveries in years outside of countries belonging to the Organization of Petroleum Exporting Countries, comparable in size to the Kashagan oil field in Kazakhstan.