An Exxon/Hess/Petrobras consortium may have found another 10 billion barrels. Yawn...this IS getting old: Exxon, Hess Oil Field May Hold 10 Billion Barrels, Estado Says (Hat tip: Ghawar Guzzler).
Jan. 25 (Bloomberg) -- Exxon Mobil Corp., Hess Corp. and Petroleo Brasileiro SA’s BM-S-22 offshore block in Brazil’s so- called pre-salt area may hold as much as 10 billion barrels of oil, O Estado de S. Paulo reported, without saying where it got the information.
The block operated by Exxon Mobil in Brazil’s Santos Basin may have more potential than the nearby Tupi field, which contains as much as 8 billion barrels, the newspaper said, citing unidentified people with access to results of some studies.
If confirmed, Exxon Mobil could become the operator of the biggest oil reserve in Brazil, the newspaper said. Based on crude prices around $40 a barrel, the oil may be worth as much as $400 billion, Estado said.