Brazil finds massive oil field

Kieran · Post by **Kieran** » 30 Oct 2010, 23:28

http://www.bbc.co.uk/news/world-latin-america-11659582

" A newly-tapped oil field off the coast of Brazil could contain up to 15 billion barrels of oil, officials say.

Brazil's national petroleum agency said the Libra field most probably held around 8 billion barrels.

That matches the size of the giant Tupi oil field, whose discovery in 2007 drew attention to Brazil's potential as a major oil producer.

If the 15 billion barrel figure were confirmed it would double Brazil's known oil reserves. "

Tawney · Post by **Tawney** » 30 Oct 2010, 23:31

"The volume of recoverable oil belonging to the nation could vary from 3.7 billion to 15 billion barrels, with the most likely estimate being 7.9 billion barrels," the national petroleum agency (ANP) said in a statement.

If they export it all should keep the world going for 3-6 months. Handy find.

frank_begbie · Post by **frank_begbie** » 30 Oct 2010, 23:33

"The volume of recoverable oil belonging to the nation could vary from 3.7 billion to 15 billion barrels, with the most likely estimate being 7.9 billion barrels," the national petroleum agency (ANP) said in a statement.

So lets say 8 billion barrels. How long would that last the world?

frank_begbie · Post by **frank_begbie** » 30 Oct 2010, 23:57

So 15 billion barrels (maximum), and its like a drop in the ocean

Even if they keep it all themselves, it would only last a few years.

http://www.nationmaster.com/red/pie/ene ... onsumption

Mean Mr Mustard · Post by **Mean Mr Mustard** » 30 Oct 2010, 23:57

It's the flow rate, innit...

Miles under the sea bed, I suppose?

Señor · Post by **Señor** » 31 Oct 2010, 15:15

I can't see why they wouldn't export it. Statistics suggest than they are already exporting 18% more oil in 2010 than they did in 2009.