Brazil Tupi Oil Field - Tupi Oil Field - Santos Basin - Brazil

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Brazil Tupi Oil Field Information - Santos Basin

The country of Brazil is excited about their recent oil find.  Shareholders of Brazil's Petroleo Brasileiro SA PBR have reason to be excited as well!  Petrobras believes they are sitting on one of the worlds largest oil field reserves deep under the Santos Basin in the Atlantic Ocean.  The company estimates recoverable reserves are up to 8 billion barrels of oil, which would be the largest oil discovery in roughly 20 years. It gets better.  Some people are estimating that the Santo region could hold up to 33 billion in oil reserves as well as a huge amount of Natural Gas located in the Jupiter Field.  This field is located less then 23 miles away from Tupi's east side.

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.

August 8th, 2008New Oil Discovery Brazil

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Don't forget to check out these other shale plays similar to Brazil Tupi.  Haynesville Shale -  Marcellus Shale -  Horn River Shale - Bakken Oil Shale - Fayetteville Shale Woodford ShaleBarnett Shale - Chattanooga Shale - Utica Shale

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