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Petrobras announced two oil reserves discovered in Brazil

Rio de Janeiro, Feb 26 (Calcutta Tube) Brazil’s state energy giant Petrobras announced Thursday that it has located two new significant oil deposits, estimated at a combined 65 million barrels.

Both deposits are in the Barracuda oilfield, about 100 km off the coast of Rio de Janeiro state and were detected through one single oil well.

 

One of the deposits, has recoverable reserves of 25 million barrels around 800 metres below sea level, while the second holds an estimated 40 million barrels at a depth of 4,300 metres below sea level.

 

Betrobras reported massive oil findings off the Brazilian coast in 2007 and 2008, at depths of several thousand metres below the surface.

 

Brazil’s proven, commercially recoverable oil reserves are estimated at nearly 13 billion barrels, ranking 15th in the world, roughly equivalent to Algeria, according to US government data.

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