Rio de Janeiro – The National Petroleum Agency (ANP, in the Portuguese acronym) announced today (29th) that the oil reserve of Libra, in the pre-salt layer of the Santos Basin, may contain more oil than the sum of all proven reserves in Brazil.
The volume of recoverable oil at Libra may reach 15 billion barrels. Presently, the Brazilian reserves total 14 billion barrels. The largest well ever discovered in the continental platform was Tupi, also in the pre-salt layer of the Santos Basin, with reserves estimated to range from 5 billion to 8 billion barrels.
According to the ANP, Libra is located at a block wholly owned by the Federal Government and has been audited by consultancy firm Gaffney, Cline & Associates. The firm has stated that the recoverable volume may range from 3.7 billion to 15 billion barrels, the most likely volume being 7.9 billion barrels.
"This discovery, located in the huge Libra section, as expressed in the consultancy firm’s report, hugely increases the wealth of the country," claimed that ANP in a statement.
The well is located 183 kilometres off the coast of Rio de Janeiro, at a water depth of 1,964 metres and 5.4 kilometres of depth. "The forecasted final depth, of around 6,500 metres, should be reached in early December, according to estimates," the ANP informed.
*Translated by Gabriel Pomerancblum
