Lula oil field "friendly frontier" for investment in Brazil
Date added: 22nd February, 2011 at 10:14
(view all articles from February, 2011)
Categories: Natural Resources
An oil field in the deepwaters of the Atlantic Ocean could encourage people to consider investment in Brazil.
According to Chron.com, the Lula Oil Field is the biggest oil discovery in the Americas for three decades and is at the front of the South American nation's attempts to turn itself into a global energy superpower.
It is believed that the region, situated 200 miles south of Rio de Janeiro, could hold between 50 billion and 100 billion barrels of oil, which could propel Brazil into one of the world's top five oil producers.
Marvin Odum, director of Shell's upstream oil and gas business in the Americas, told the news provider: "It's easy to say that this is an area that the industry is very, very interested in."
BG Group also recently announced that it had discovered oil at the Block BM-S-10 in the Santos Basin, off the shore of Brazil.
For anyone wishing to invest in the full potential of Brazil, Property Bond Brazil has an excellent array of opportunities for investment in Brazil.
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