Brazil Exploration Review 2013
The auction of Libra pre-salt field, forecast to contain between 8 and 12 billion barrels boe in recoverable reserves, was Brazil's first bidding round in the pre-salt area, and failed to meet the high expectations placed on it by the Brazilian government, yet the government, the ANP (National Oil Regulator) and Petrobras are highly satisfied with the results because they managed to attract important and experienced partners in Shell and Total, along with the high rolling Chinese companies. Despite a nine-month global publicity campaign and predictions of fervent bidding by as many as 40 firms, the license was awarded to the only consortium to register a bid. Another controversial state controlled company PPSA will oversee the contract’s implementation, having both voting and veto rights.
New Well Confirms Tupi´s Potential Recoverable Oil Reserves
New discovery at the Tupi field confirms Tupi potential and another new discovery in an ANP block, to be included in onerous concession contract with Petrobras.In early April 2010 Petrobras Petróleo Brasileiro S.A. announced that it finalized the drilling of another well in the Tupi field which confirms the potential of the pre-salt reservoirs in that field. The new well, 3-BRSA-795-RJS (3-RJS-666), and informally known as Tupi OW, is located in the area of the Tupi Evaluation Plan, at a depth of 2,131 meters, nearly 270 km of the coast of Rio de Janeiro, and 12.5 km northeast of the discovery well, 1-RJS-628 (1-BRSA-369), known as Tupi.