BRASIL / OIL : Deep Water Drilling Requires Deep Pockets.

http://www.reuters.com/article/2012/08/17/us-oil-offshore-scale-idUSBRE87G0N620120817

       So far this year...more than half of all new oil discoveries...are from 'ultra-deep' wells/1.5km/4,500 feet deep...with more than 80 rigs able to explore in 7,500 feet waters.

      New deeper wells...usually contain bigger potential reservoirs...required because drilling costs are enormous...and riskier.
      But the oil giants continue plowing their profits from high oil prices into deep water exploration.
      Petrobras' newest find...the subsalt Carcara...is 2 km deep.