Petrobras confirms potential Tupi oil reserves

SAO PAULO (Reuters) – Brazil’s state-run oil company Petrobras said on Thursday a third well in the Tupi area has confirmed estimates of a potential of between 5 billion and 8 billion barrels of recoverable light oil and natural gas in the field, in the subsalt cluster.

“The third well, 4-BRSA-711-RJS, indicated similar oil type and quality reservoirs, supporting the original estimations for the area,” Petrobras said in a statement.

The third well, known as Iracema, is 33 km (20.5 miles) to the northeast of Tupi’s first well, 1-RJS-628. It is located about 250 km (155 miles) off the cost of Rio de Janeiro state at a water depth of 2,210 meters (7,250 feet).

Reuters