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Right now now production is around 1.76 barrels a day. By 2022,
Brazil hopes this will double. These results won't come without challenges of coarse. Many of the major oil discoveries
off the coast of Brazil are very deep below the earths surface, sometimes up to 2,000 kilometers deep below the Santos Basin.
These hard to drill areas are very costly as they are made up of salt rock and sand beds. Petrobras is rumored to be
buying around 16 drilling ships to for Tupi and Carioca fields. They are also still working on technology that will
allow them to drill effectively this deep. The Cost? Try over 200 Billion Dollars! This cost is
manily because most of the oil is below 7,000 feet of water and then another 6-7,000 feet of thick sub sea salt.
With oil expected to go back above $100 per barrel in 2011, this huge price tag would be worth it if infact they
can extract all of that oil. To guard the oil, Brazil plans to use a $600 million nuclear-powered submarine
to protect the country's offshore fields, said Defense Minister Nelson Jobim.
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