Repsol Chairman: Brazil's Guara Is Mega-Field, Exceeds Expectation
09 Settembre 2009 - 9:11AM
Dow Jones News
The Guara discovery in Brazil is a mega-field and oil found
there exceeds initial expectations, Repsol YPF SA (REP) chairman
and chief executive said in a radio interview Wednesday.
The potential of the discovery shown in a recent production test
has "surprised us all in a very positive way. The reserves that
could exist there exceeds our initial estimates a lot," Brufau
said.
Brazilian state-run oil firm Petroleo Brasileiro SA (PBR) said
late Tuesday that the Guara find in the Santos-Basin BM-S-9 block
has an estimated 1.1 billion to 2 billion barrels of oil equivalent
in reserves.
Repsol holds 25% in the block, while BG Group (BG.LN) and
Petrobras have stakes of 30% and 45% respectively.
The BM-S-9 block also contains the Carioca find, but Petrobras
hasn't made an official reserve estimate for that discovery
yet.
Repsol in February said the entire BM-S-9 block could hold
reserves of 6 billion barrels of oil equivalent.
Company Web site: http://www.repsol.com
-By Bernd Radowitz, Dow Jones Newswires, +34-91-395-8125,
djmadrid@dowjones.com