BG doubles Brazilian reserves estimate

Offshore staff

READING, UK – BG Group has doubled the reserves estimates for its pre-salt Santos basin holdings offshore Brazil. BG now says its mean total reserves and resources are 6 Bbbl of oil net, with an upside potential of 8 Bbbl.

The new figure is based on an internal analysis by BG of probabilistic modeling of those Santos basin interests. BG incorporated drilling, appraisal, test, and seismic information. It has drilled 29 wells in the existing discoveries and shot and analyzed 14,400 sq km (5,560 sq mi) of 3D seismic data, among other things.

“Robust economics and solid progress with the fasttrack development program will see gross installed production capacity rising steadily to reach more than 2.3 MMboe/d by 2017,” said Sir Frank Chapman, BG Group CEO.

06/30/2011



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...