Black Gold, Tupi Tea: Petrobras Announces the Carioca Field

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No jokes about the Bacia de Pelotas, please.

And then one day he was shootin’ at some food
When up through the ground came a’bubblin’ crude
Oil, that is. Black gold. Tupi tea.
–“The Ballad of Jed Clampett”

Petrobras descobre outro poço na Bacia de Santos: “Petrobras discovers another hydrocarbon reserve in the Santos Basin.”

Will Paulo Maluf take credit for having the vision to go looking for this one as well?

The, ahem, colorful and reputedly larcenous on a mass scale local politician ran TV ads after the first Santos Basin discovery trying to link the deepwater discoveries to his infamous dictatorship-era (inland) drilling boondoggle, Paulipetro.

My wife laughed until milk shot of her nose when that came on the TV during the mandatory political advertising slot.

A Petrobras encontrou mais um reservatório de petróleo e gás abaixo da camada de sal, em área ultraprofunda, na Bacia de Santos. Foi no bloco BM-S-8, ao sul das reservas gigantes de Tupi, considerada um megacampo de petróleo, com um volume estimado entre 5 bilhões e 8 bilhões de barris.

Petrobras has found another gas and oil reserve below the salt layer in very deep waters in the Santos Basin. It was in Block BM-S-8, south of the giant Tupi reserves, which are considered a megareserve with volume estimated at between 5 billion and 8 billion barrels.

We may have to start giving these Brazilians the Milburn Drysdale treatment. They seem to have lots of black gold and Tupi tea.

A Agência Nacional do Petróleo (ANP) recebeu a notificação no dia 6 deste mês. A empresa informou que não fez comunicado ao mercado porque ainda não foram feitos testes de produção para avaliar o potencial da jazida.

The National Petroluem Agency (ANP) was notified on March 6. Petrobras said it did not inform the market because production tests had not been conducted to evaluate the potential of the deposit.

Esse é o nono poço bem-sucedido na região, que vem sendo encarada como a principal província petrolífera mundial encontrada nos últimos anos. Em apenas quatro poços foram feitos testes de produção.

This is the ninth successful test well in the region, which is coming to be seen as the most significant global oil-bearing region discovered in recent years. Only four wells have undergone production testing so far.

O BM-S-8 fica no entorno de uma área com potencial de reservas, batizada pela Petrobras e seus sócios de Carioca, que se estende por quatro blocos exploratórios na porção paulista da Bacia de Santos

BM-S-8 is in the area with potential reserves that Petrobras and its partners call Carioca, extending over four exploration blocks in the São Paulo portion of the Santos Basin.

There is a quarrel in the offing over royalties due the respective states. Rio does not want to get the New Orleans treatment (if I recall rightly, Louisiana gets diddly in royalties for offshore drillinng in its waters in return for the marvelous flood control the gumming provided for its citizens.)

Analistas acreditam que essa área pode ser maior que a de Tupi. Em relatório de dezembro do ano passado, o Banco Credit Suisse estimava a existência de algo entre 7 bilhões e 24,5 bilhões de barris em Carioca.

Analysts believe the area could be larger than Tupi. In a reporter from December of last year, Credit Suisse estimated there could be between 7 billion and 24.5 billlion barrels in the Carioca deposit.

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