Brazilian oil field is 'very attractive for foreign investment'
Date added: 12th November, 2009 at 08:53
(view all articles from November, 2009)
Categories: Natural Resources
Foreign investment in Brazil's Tupi offshore oil field is very likely given the huge volumes of hydrocarbons that it contains, an expert has said.
Francois Moreau, an analyst for the oil industry, explained that the field is "very attractive for international companies" to invest in.
Located around an hour's helicopter flight south of Rio de Janeiro, the Tupi field was first discovered back in 2007.
Speaking to the BBC, Mr Moreau commented that while a chunk of any revenue produced from the field is likely to go the country's government via state-owned energy giant Petrobras, it is still a "very promising opportunity".
This is particularly the case because investors have few alternatives at present, he claimed, describing other locations as being "not very encouraging".
Many of the world's other big oil producing nations are currently seeing periods of political instability which makes them unattractive compared to Brazil, he added.
Petrobras has claimed that the Tupi field could be producing one million barrels of oil per day by 2017.
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