Brazil’s Offshore Oil Reserves Larger Than Expected

Wednesday, November 14, 2007
Brazil's oil giant Petrobras announced that its recent offshore oil discovery in Brazil contains between 5-8 billion barrels of recoverable oil. Petrobras made the statement after attending the World Energy Congress. Last week, Petrobras said the Tupi Field, some 280 km off the coast of Rio de Janeiro, may hold the equivalent of billions of barrels of oil, which is trapped below a thick layer of salt. The Petrobras president reportedly said production on the Tupi Field could begin in 2010 or 2011 as the company aims to increase overall production to 4.5 million barrels a day of oil and gas equivalent by 2015. [Source: http://news.xinhuanet.com]
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Contracts

Skangass Granted Permission for LNG Terminal

The Swedish Government (Länsstyrelsen in Dalarnas Län) has granted Skangass permission to build and operate a new Terminal for LNG (Liquefied Natural Gas) within the harbour in Gävle, Sweden.

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Offshore

SBM Offshore Completes Real Estate Divestment

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Keppel T & T Appoints Lim Chin Leong to its Board

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Odfjell Drilling in Tighter 2Q North Sea Market

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