Reply #36: Oh, and did I mention they have to go through 7,000 feet of water and 16,000 feet of rock to get it? [View All]

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The oil in Tupi and potentially in other fields nearby could drastically change Brazil's role in the world's oil business, where "the game is to become a petroleum exporter," she said. The Tupi field lies under 2,140 meters (7,060 feet) of water, more than 3,000 meters (almost 10,000 feet) of sand and rocks, and then another 2,000-meter (6,600-foot) thick layer of salt.

Getting the oil out will be a formidable challenge. It will take years because the petroleum is so deep under the earth's surface, meaning any impact on oil prices probably won't come soon. Petrobras, however, has become well-known over the last decade for its experience in extracting oil from extremely deep reserves.

The company's Brazilian oil and gas reserves stood at 10.573 billion barrels of oil equivalent at the end of 2006, according to the measuring criteria used by the U.S. Securities and Exchange Commission.

"If recoverable oil and gas volumes for the pre-salt reservoirs are confirmed, they will significantly raise the quantity of existing oil in Brazilian basins," Petrobras said in a statement.

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http://money.aol.com/news/articles/_a/brazil-oil-field-may-hold-8b-barrels/n20071108191509990028