The oil giant of Brazil, "Petrobas has been informing the media that they will plan to produce an average of 50,000 barrels of oil per day from the Tupi presalt offshore Brazil in 2011" (wsj.com) Since 2009, Petrobas has been producing about 14,000 bpd oil at a long duration test in Tupi. Tupi was discovered in 2007. It is a deep underwater field and has been known as one of the biggest discoveries in the Americas since about 30 years ago.
"Petrobas also mentioned that with the conclusion of drilling a ninth at Tupi confirmed that 5-8 billion barrels of oil equivalent of light oil and natural gas are potentially recoverable from the area." (wsj.com) Petrobas will start the commercial production of gas at Tupi in January or February of 2011.
-Michael Sheinfeld
http://online.wsj.com/article/BT-CO-20101027-717634.html?mod=WSJ_Energy_middleHeadlines
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