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Brasil now estimates its Libra field MAY hold “gigantic” reserves of 15 billion barrels, almost twice initial estimates. However, a national agency believes that 8 billion barrels is closer to its true potential.
The Libra field is located 183km (114 miles) offshore from Rio de Janeiro.
At a maximum of 15 billion barrels, Libra would be almost twice as big as the Tupi fields and make it the biggest find in the Americas since Mexico discovered Cantarell in 1976.
Brasil currently has PROVEN reserves of about 14 billion barrels.
FOR: The perils of deep-water drilling off Rio's coast, READ ERIK GERMAN:
"More than 200 miles out to sea and several miles below the surface, the pools of oil are thought to be among the biggest discovered on earth in recent decades. Properly tapped, they’ll make fortunes and catapult Brazil into the ranks of the world’s top oil-producing countries.
But as the crude begins to flow, some industry experts say Brazil has understated the risks involved — made apparent by the deep-sea drilling that caused this year’s disastrous spill in the Gulf of Mexico."
http://www.globalpost.com/dispatch/brazil/101026/brazil-offshore-oil-drilling
