Petrobras asserts recoverable oil estimates at Tupi range from 5 to 8B barrels

Petrobras (PBR) reconfirmed today that the company’s Tupi oil field contains some 5 to 8 billion barrels of recoverable oil. The size of the field was declared in November 2009 after drilling the fourth Tupi well, 3-BRSA-755A-RJS (2-RJS-662A). 

Started in May 2009, Petrobras is currently conducting an extended well test on the Tupi oil field in an effort to retrieve technical information to help with the development of pre-salt reservoirs. After the completion of this test, Petrobras should declare the commercial viability of the field, as well as production infrastructure needed to develop Tupi. 

The Tupi oil field is located in the ultra-deepwaters of the Santos Basin on Block BM-S-11. Tupi achieved first oil production on May 1, 2009, via the FPSO BW Cidade de Sao Vicente vessel. 

Petrobras serves as the operator of Tupi with 65 percent interest. Project partners include BG Group with 25 percent working interest and Galp with 10 percent interest.



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