Oil discovery rocks Brazil

Source: CNN.COM

A huge offshore oil discovery could raise Brazil's petroleum reserves by a whopping 40 percent and boost this country into the ranks of the world's major exporters, officials said.

The government-run oil company Petroleo Brasileiro SA, or Petrobras, said the new "ultra-deep" Tupi field could hold as much as 8 billion barrels of recoverable light crude, sending Petrobras shares soaring and prompting predictions that Brazil could join the world's "top 10" oil producers.

Petrobras President Sergio Gabrielli said Thursday the oil from ultradeep areas, including the Tupi field, would give Brazil the world's eighth-largest oil and gas reserves.

"Brazil's reserves will lie somewhere between those of Nigeria and those of Venezuela," Gabrielli said at a news conference.




Read more: http://www.cnn.com/2007/WORLD/americas/11/08/brazil.oil.ap/index.html

This just raised the chances of an oil war
between Britain and Brazil / Argentina, after
Britain wants the seabed around the Falklands.

They wanted it because there -might- be oil.
Now that's most likely confirmed, we can have
Falkland II.

Shame the next earth-like planet is some
50 light-years away.

and I doubt that the UK is interested in another "incursion".:)

Bush begins plans to invade Brasil!

We can't wait for the smoking gun in the form of a samba cloud!

It's the American way.

of course, everything has its price.

Hopefully it is good for us as well.

I am curious, why the Che Guevara avatar? Wasn't he Castro's henchman?

We are already at or near the Global Warming tipping point, and NOW a new discovery of Carbon Crude to speed things up. This is a GOOD THING???

And why not Che Guevara? You don't have to 100% agree with a person's politics to see them as carrying the struggle of the poor to the door of the rich. Plus he's a perfect example of CIA sponsored assassination, one of our more unsavory exports.

notice that there is one thinj which is shared by the newly found Brazil reserves

And the sudden petroleum abundance that Russia is now experiencing..........

the key is 'Ultra Deep" wells,
the planet has lots of 'oil', we have merely tapped the small pools close to the surface
the Peak-Oil scam is coming undone slow-but-sure

reserves that are much less than the yearly demand. That is the problem!

And the internet is a series of tubes. :crazy:

Peak Oil is not a scam. Also, this oil field is supposed to have 8 billion barrels of oil and the world is currently using approx 90 million per day so that works out to approx 89 days of world oil usage. Not much for an ultra deep exploration.

nt

Name 3 other "major fields" discovered in the past 10 years, if you believe the discovery of major fields continues. Then compare that to the declines we've seen in Kuwait's Bergen Field, Mexico's Cantarell Field, the North Slope, the North Sea Field, etc.

This "major field" at best allows us to run in place another year on oil production before we fall off the plateau.

so who am I to rain on the brazilian parade. Why do you want to downplay the Brazilian find and say it isn't worth the trouble to extract?

Anyway
nobody is allowed to search for oil along the US gulf coast until we need to 'discover' oil when oil reaches $200 bbl.


then we will be hearing about 'major oil' discoveries again like the ones off Cuba the Chinese are helping to extract.

It's all about putting it in context, which is what several people here have done. Injecting a little realism into the discussion isn't raining on the Brazilian parade, unless people enjoy keeping their heads buried in the sand.

"Anyway
nobody is allowed to search for oil along the US gulf coast until we need to 'discover' oil when oil reaches $200 bbl."

Not to be rude, but that is a flat-out lie. Oil companies have been exploring the Gulf for decades now, and have hundreds of oil rigs scattered throughout it (remember all the rigs lost or damaged after Katrina?). In fact, global discoveries of oil reserves peaked in the 1960's, despite the rush to find oil sources in the 1970's and today.

Oh, and that "major oil" discovery off the coast of Cuba? 4.6 billion barrels, about half of what was just discovered off of Brazil's coast. Put in perspective, that is 45 days of world oil supply. Again, that is small potatoes compared to the true major fields in Mexico and the Middle East.

30 billion barrels a year (at curent demand).

5 to 10 years for any of this oil to make it into the system (set-up) and with a bell curve production. over 30 to 50 years.

It will make some folks rich, but have very little impact on total supplies.

Olafr

another busted story breaking on CNN from this previously reliable source;


http://media.newsbusters.org/stories/weather-channel-founder-global-warming-greatest-scam-history.html?q=blogs/noel-sheppard/2007/11/07/weather-channel-founder-global-warming-greatest-scam-history

You make a very good point,

November 8, 2007 - 09:35 ET by misterbee241

You make a very good point, Lame Cherry. I was reading an editorial by Joseph Farah on World Net Daily yesterday, and he made the point that if man made global warming was real, the Bible, especially the OT would have addressed it. Just about all of the prophecies in the OT have come to pass, but no mention is made of global warming.

As for me, 2nd Peter says the earth and the heavens will all burn up including the things that hold them together but it wont be from greenhouse gasses.

I think in our arrogance we have returned to the Tower of Babel, that we think we can turn back the weather to our liking.

I agree that GW is a scam, and when the Next Big Thing comes along funding will dry up and GW will be history.

Bible stories represent "predictive science" and science is a myth?

What the hell was I thinking?

The bibles prophecies are absolutely so vague, that they could be applied to a myriad of mis-interpretations and are highly subjective. Biblical conclusions cannot be tested or questioned, After all, it was gawd who said it.

On the other hand, If a chemist makes a prediction and someone doubts it, then the claim CAN be tested and the result verified. If the result cannot be duplicated, then the original claim is not accepted as fact.

This is the fundamental difference between science and religion.

Everything, absolutely everything concerning religion is a theory which cannot be tested or verified. Accepting by "faith alone" is code for "this is absolute bullshit which cannot be proven or verified, and you must believe me so I can tell you more lies" Superstitious interpretations of world events or the laws of physics will not do.


Scientific theory is always tested and the results are verified by third parties. Furthermore, the race, nationality, sexuality, or culture of the scientist does not matter. In religious theory, the bonehead from one church is always bitching about what the bonehead from another church believes. A war begins, and the churchmen who torture, kill, and maim the greatest number of people in the least amount of time is assumed to have the blessing of gawd and is therefore correct.

Scientific claims are duplicated by third parties. Regardless or religious belief.

Oh wait, I thought the reasoning for the Iraq war was the greatest scam propogated by activist news agencies in history.

silly me.

I suspect that there is oil a plenty off the California coast too.

And our media never mentions that the Russian Oil Fields in the islands above Japan are touted as being able to supply Russia with oil for 35 years.

Plus our country has natural gas and coal.

Additionally, with the tremendous inovation going on inside the alternate energy community, we will find something before we run out. If we would just quit having the oil wars that take away the money and young minds needed to solve the problem.

The last refuge of denial.

Doom and gloom is that the Peak Oil top spokespeople say things like: "It's too late. No matter what we do, we are doomed. We can't even switch to solar, because producing the voltaic cells would still a) use up too much oil or b) destroy the ozone" or something along those lines.

If you think we are doomed, we are.

If you believe that human ingenuity will triumph, than it will.

The United kingdom is looking into a heating system that will deliver a return of 150% - so that the country can economically heat up the homes of the impoverished there. Some say it won't work, (and maybe it will, maybe it won't) but eventually we will find things that do.

Look at www.ecowatts.co.uk

One example I refer to is how about one hundred thirty years ago,the steamship oceanliner industry was frantic about trying to shave a three or four hour time off the travel time from England to New York. It is one reason that the Titantic sank in 1912 - they wantd to beat the record.
Fast forward just twenty years and no one worried about that any more. We had planes that would cross the Atlantic in less than a day!
We can't see the good that will come about in the future if we are focusing on our imminent DOOM!

Call a problem a problem, and take a good look at it. Contingency planning begins with a look at reality, which in this case begins by brushing aside conucopian fantasies. The Brazil find - relatively small, massively expensive to produce, and at least five years away, is a feather in the cap and hopefully an asset for the future of Brazil, but irrelevant to immediate problems.

Are willing to point out ALL the problems - I have yet to see them say, "Here is
a solution"

When I lived in the S.F. Bay Area I would even go and see them speak live.

But it was nothing but: "Problem - no solution to that one."
"Problem - no solution to that one." Etc.

On the other hand, we are told by entire armies of epidemiologists that in the next ten years a Super Bug will decimate (or worse) the ranks of humanity...

Now that's one solution, though rather gory - but then the "Social Security is going bust" crowd and the "We have no energy for the masses of humanity here on this planet" crowd will all shut up.
So I'm certainly hoping that I survive long enough to hear that welcome silence.


So which is it - is Super Staph gonna be worse than the Black Plague and kill me off next year in the process? Or am I gonna live to be seventy only to find the Social Security checks are non-existant? With only a few candles to keep me warm and let me have light.

Right now, the "experts" are calling it both ways - an illogical proposition at best.

And a cheap shot at getting us to all live in fear all of the time.


####

the biggest problem to me is population - if you look at the graph of population against the graph of oil production, there is a nearly perfect correlation. All related to the oil-intensive modern food production. If you then look at the inevitable geologic reality (whether it be an optimistic CERA case, or one of the multitudes of well-researched pessimistic cases), the question would be: what happens to population on the wrong side of the peak? Do we have resource wars, massive migrations, starvation, disease, etc, to reach a new balancing point? I would prefer not.

A best case scenario is that the peak is far enough away for conservation and alternative energies to mitigate its effects, and for reality-based policies to be put in place. None of this is currently being taken seriously, and it will not happen without awareness. Hence the stridency of the rhetoric - think about the future that we are currently walking into blindly, and consider again whether those who wish to wake people and governments up and create change NOW are really the problem.

Warren Porter PhD is a scientist that has been investigating the effects of pesticides and
Other toxins on mammalian life, has stated that in less than twenty five years, the majority of the human race will be unable to conceive.

For years, Porter has been in demand as a speaker to those in the environmental movement's front guard. He teaches at The University of Wisconsin in Madison.


He is basing his findings on the deformities now occurring among the reptiles in contaminated waters of Florida and the frogs in the MidWest.

Smaller gonads, hermaphroditism, low sperm counts, etc in these populations more than suggests that we humans are headed the same way.

Especially if we run out of clean water to drink and bathe in. Which is the other big crisis at hand.

This will probably first show up in China and in India. Water there is already unfit to drink.

But recent droughts across the USA show that OUR running out of water is not so far fetched.

Maybe those darn Canucks! will be the last affected.

Though it is a difficult thing to even begin to think about.

Your steamship and airplanes were from an era in which fossil fuels were plentiful, and their environmental impacts relatively small.

Message removed by moderator. Click here to review the message board rules.

...to dream up endless fields of oil, so that we never have to change our gas-guzzling lifestyles.

And yet the petroleum keeps getting harder to find and drill for, and the price per barrel keeps rising. Dream on.

But at least we'll be able to go to the McDonalds drive-through cheaply.

Lets all do the happy dance.

Just putting that out there.. I bet they hate us for our freedoms too!

it will be at least another week before operations begin to create opposition to the 'marxist government'. In the meantime negotiations are in progress trying to buy local politicians, subvert democracy, fund special interest sectors, and suppress independent alternative press. NED funding should be arriving soon!

Wonder how this will impact their proposed ethynol plans!

Cannot wait to hear more about this. Good for Brazil, good for the people of Brazil, and good for South America.



Argentina’s President Nestor Kirchner, Bolivia’s Evo morales, Brazil’s Luiz
Inacio Lula da Silva and Venezuela’s Hugo Chavez at a regional summit in
Iguazu, Argentina, May 2006. Photo: Enrique Marcarian/Reuters

The Failure Fuhrer's salivating on autoboner for this bit of news!

Let's see. Worldwide demand is 85 million barrels a day. Brazil (good for them!) discover an 8 billion barrel field. That's about 90 days of world supply. Another way to look at it, they estimate that world demand will rise to 125 million barrels per day within a decade. The difference between demand then and demand now is 40 million barrels a day. So that 8 billion barrel field will supply 200 days of the expected additional demand.

Ok, that handles 2010. What about 2011? Especially since the other large fields in the world are in terminal decline? We'd need to find 1 Brazil field every 200 days plus other fields to replace declining supplies from the already exploited fields or ... we will be ridding down the back slope of Hubbert's Peak.

I think it's a safe bet for we as a people to start planning for the latter.

Here in the U.S., we use about 20,000,000 barrels per day.

That would mean roughtly a 400 day supply.

So Brazil could supply us with a little more than a year's worth of the black gold.

I hope someone is planning, but the Congress doesn't really have the nerve to do it.

Maybe the tanking dollar will do it for them.

yeah "big" discovery LOL

So what happens after 200 days, back to the old sugar cane again, I guess. LOL

fools and tools that all we have now.

But I arrogantly used only the American usage. After all, only we count. Right? :)

...until the US decides they need some "freedoms" and "democracy".

when US troops invade to "liberate" them.

Not like what happened the last time with the Iraqis...

Our atmosphere can't take much more carbon.

Gee, it looks like the amazing 6,000 b/d Jack 2 test well is back - but this time, he's speaking Portugese.

:eyes:

Bush asked, how much is a Brazilian?

Whoopee.

discovered anywhere on this planet. We need to break the addiction and don't seem to be willing to do so voluntarily. I equate new discoveries of crude and our lust for it to a crackhead agreeing to enter treatment after he smokes his last rock then finding a few more vials in the gutter while walking to the rehab center.

I used to think I was so cynical when I thought that. But that was long before the first gulf war. I'm glad to see others thinking the same way. The mean part about that thinking is not a reflection on us as much as it is on those who would rather be comfortable, than change.

But having had this discussion with someone last night, it's sad because I believe we actually can't change now. We've put ourselves in a corner.

So even though I have the same sentiment about having something force us to alter our ways, I have a sense of compassion. I know it doesn't seem like it. It's tainted compassion.

Listening to the comments of those who I live and work around, it is very obvious that voluntary change is out of the question. After contact with thousands of people during the last several years, the only concern I have ever heard expressed with regard to crude oil and such, is the price of gasoline (In my line of work, the topic is broached very often). Not even once, has anyone mentioned global climate change or energy conservation.

Those who have created our consumerist reality, have done their jobs very thoroughly. I doubt any amount of reasoning will break through the apathy and ignorance of the average citizen.

The changing of fundamental attitudes and values is a generational process, that will require many years to institute. I hope, for the sake of our species, that we have time to make the necessary changes.

EDIT

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.

EDIT

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

water was considered to deep to produce--but I was aware of a few exploratory wells drilled in similar depths. In other words, the oil companies are confident that they CAN produce in that depth,but boy, does the price need to be right. $100/bbl is probably more than adequate!

But you are very right, this isn't something that will come on stream immediately. Another important factor is how close the basin is to any other producing fields for tie-in and support and so on...

On a side note: Damn I hated the oilfield. :puke:

These will probably be subsea completions. The depth is just too much for almost anything else and Petrobras is probably the best in the world at subsea.

Total reserves aren't as important as production rates, and I would be suprised to see more than about 5 or 6 MMBBL/Day at the very most. More likely about 2-4.

This will mean big money for Brazil as they will export virtually all of it. If it's sweet, they will get premium price as well. I would not look for significant production for five to seven years, maybe more if the technology doesn't catch up quickly.

It does not, however, significantly shift the world's depletion curve.

or was that considered a subsea completion? I was a mudlogger/MWD hand and I was usually long gone by the time they got around to completing a well, I certainly heard a lot of chit chat about it though. You're not a Pet. Engineer by any chance are you? I was never privy to any discussions about yield from a field--I'd get first crack to tell 'em what the oil looked like and what kind of sand it was in but that was about it.

I did a job for Anadarko (I think it was out on some block in High Island) that set a record for that class of water depth. That was 140 million barrels and could produce something like 23000 bbl/day. I had to find that out by reading the paper.

With oil nearing $100/barrle I bet I could be offshore working by next wednesday if I'd make a phone call.

Not that I'd ever do that, mind you.... :D

Gizmologist, actually.

Many if not most of PetroBras completions are subsea. They've sort of committed to it conceptually. Everything's on the ocean floor.

Subsea completions use a lot less steel (and few if any people). They seem to be more economic the deeper the water, which is somewhat ironic. External pressure at 10,000 ft is around 5000 psi. Production at this is doable with only a little tweaking to technology. The drilling at this depth I'm much less familiar with.

mud and cuttings moving in a mile+ long riser. In 1997 I heard about a drillship drilled well in 7k ft of water that had found oil, but I'm not sure if that was riserless--or how you could prevent a blow out if they encoutered any pressure at all. Generally I showed up after they had run the first string of casing and get sent home right after TD. (TD + Total Depth of the well, for anybody who is interested)

I did fill in for a week or so on a rig that was drilling in 3800--and that was no super special project. It was a high end job to be sure, but not one using revolutionary technology or methods.

Y'know, I hated being offshore with a burning passion, and I totally felt like I was working for the problem and not the solution, but I'm still kinda glad I went down there and checked it out.

Well, I'm off for the week end, so I'll see ya 'round. :hi:

which will probably be marginal.

Does not make much sense for society as a whole to throw money at an energy source, this dirty, that yields just slightly more energy than it takes to 'harvest' the resource.


Look at the saga of Thunderhorse. Billions invested, untold energy invested, and yet to produce a drop of SUV-go juice feedstock.

Man are you a buzz-kill.

Can you say energy sink? That's what I'm thinking this will be.

Thanks for posting this. It's important for people to do the full equation from start to finish.

Those dastardly Brazillion agents!

WHo has the $ to pull it off ?

http://www.solarpowerrocks.com/solar-trends/a-sick-graph-2/

Posting this here in case you don't catch the discussion now at the "greatest" page

.

and creating energy with the left over product?

How come we're not doing that ?

as long as the industry is heavily subsidized on a regular basis with tens of billions of dollars from taxpayer revenue.

Then there's deregulation, which allows the oil industry to escape the expenses of conforming to labor and environmental regulation. Not to mention the millions of people in poor but resource rich countries who must sacrifice for the profits of the oil industry.

Not so "efficient" for many.

But I would never support converting food crops into energy. Given the number of hungry people in the world, I find the idea of converting food into gasoline repulsive.

And oil is still the most efficient form of energy on the planet.

Never before seen footage: our undercover agents uncover a secret Brazilian tropical disease research lab. Could this be a biological weapon in development? Stay tuned.

And mysteriously, its leaders will be discovered to be "dictators."

Now Hugo won't be alone.

... hiding in the blissful ignorance of the general public who can only
take in one-liners before their attention span is exhausted ...