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Brazil committed to exploration effort

Journal Article · · Oil Gas Dig; ()
OSTI ID:5357481
Brazil plans to spend more than $1 billion in exploration and production and to drill almost 3.3 million ft by the end of 1981. With sedimentary basins covering over 1.2 million sq miles on shore and almost 309,000 sq miles off shore and a rich history in other natural resources, Brazil would seem to be a prime source of hydrocarbons. Brazil's oil reserves at the end of 1980 have been estimated at 1.3 billion bbl, including 20.7 million bbl of LNG (an increase of 5.9% over the 1979 estimate). Natural gas reserves at year end 1980 reached an estimated 1.855 TCF (a 16.6% increase over 1979). Oil production by Petrobras in 1980 came to 66,435,000 bbl of oil from onshore and offshore fields; natural gas production increased to 77.8 billion cu ft. Seventy-nine rigs were used to drill more than 2.6 million ft, resulting in 462 completed wells. Risk contractors made an additional 170,600 ft of hole for 11 wells. Petrobras now is being more selective with its own exploration efforts and encouraging foreign oil companies to participate.
OSTI ID:
5357481
Journal Information:
Oil Gas Dig; (), Journal Name: Oil Gas Dig; () Vol. 3:10
Country of Publication:
United States
Language:
English

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