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Billions of barrels of yields estimated from Brazilian oil fields

Date added: 14th May, 2010 at 10:18
(view all articles from May, 2010)

Categories: Natural Resources

Brazil's largest private sector exploratory campaign by oil and gas company OGX has found an estimated 2 to 3.7 billion barrels of recoverable oil in the Campos Basin.

Having finished drilling two wells - OGX-6 and OGX-8 - in shallow waters of the BM-C-41 block, the firm has reported oil volumes of around 1.4 to 2.6 billion barrels from its Pipeline and Etna prospects, while it expect to recover 0.6 to 1.1 billion barrels from its Waimea and Fuji prospects.

The company said that it has a better understanding of the geological characteristics of the block now that they have completed drilling. It stated that the reservoirs found at the Pipeline and Etna prospects are connected and the reservoirs at the Waimea and Fuji prospects may also prove to be a single accumulation.

International oil giant Shell oil was lured by the discovery of oil to invest in Brazil and this week announced an estimated two billion barrel find, also in the Campos Basin.
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