Petrobras Has Volume Estimates for Tupi & Iara, Not Guara

Regarding a story published on November 27 in the Gazeta Mercantil journal regarding the estimations for the Guara area, Petrobras informs that thus far there are no conclusive data with regard to the volume of recoverable oil and reasserts that at the present time it only has recoverable oil volume estimates for the Tupi (5 to 8 billion barrels) and Iara (3 to 4 billion barrels) discoveries, both located in block BMS-11, in the pre-salt layer of the Santos Basin.