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Libra pre-salt field alone may hold 2/3 of Brazil’s oil reserves – ANP

Libra field in Santos Basin pre-salt holds oil volume of 26-42 billion barrels of oil, with expected recoverable reserves of 8-12 billion barrels

Libra pre-salt field alone may hold 2/3 of Brazil’s oil reserves – ANP
The new figure makes Libra Brazil’s largest oil field, equal in potential to several of the country’s major discoveries put together

Brazil’s Libra field, located in the pre-salt area of the Campos Basin, holds a maximum estimated oil volume in situ of 42 billion barrels, ANP announced recently. The new figure makes Libra Brazil’s largest oil field, equal in potential to several of the country’s major discoveries put together.

 

The announcement follows 3D seismic data acquisition conducted by CGG prior to the country’s 11th tender of oil and gas blocks. According to CGG, in situ volume at the Libra field ranges between 26-42 billion barrels of oil.

 

“[42 billion barrels of oil] is already something of the magnitude of 2/3 of Brazil’s total probable reserves,” ANP general director Magda Chambriard told reporters at a press conference in Rio.

 

“Of the oil volume in situ at Libra, if we project a recovery potential of 30 per cent, for example, Libra will be able to produce 8-12 billion barrels of oil, which is something absolutely amazing and unimaginable,” Chambriard added.

 

According to the ANP boss, Libra’s potential surpasses those of Brazil’s major fields combined, including Marlim, Marlim Sul, Albacora, Roncador and others. Two of the country’s largest oil fields, Marlim and Roncador, hold combined recoverable reserves of 4.5 billion barrels.

 

“If we say target the middle of Libra’s range of recoverable reserves [8-12 billion barrels], 10 billion barrles is something which includes Marlim, Roncador, Marlim Sul, Alabacora and several other fields which are producing our daily 2 million barrels per day of oil. And this a great development for us,” she added.

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