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Brazil Gusher Bombshell April 19, 2008

Posted by tkcollier in Business.
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In Brazil, Another Gusher
If confirmed, a 33-billion-barrels find would trail just two larger oil reservoirs, in Saudi Arabia and Kuwait. Those fields were each discovered more than 60 years ago, but together still account for nearly 8% of global oil output. With a single field, Brazil could potentially top all the proved reserves in the United States, estimated at 29.9 billion barrels, according to BP’s 2007 Statistical Review of World Energy. Mexico’s 35-billion-barrel Cantarell field, discovered in 1976, was largely responsible for that country becoming the world’s fifth-largest oil producer.

“Carioca would be the third-largest oil field in the world,” said Haroldo Lima, director of ANP, at an energy seminar Monday.

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