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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: ChanceIs who wrote (72754)10/5/2006 7:24:08 AM
From: elmatador  Read Replies (1) of 206197
 
The oil deposit is considered a new frontier as it lies under a 2,000-meter-thick salt layer that itself lies under 3,000 to 4,000 meters of sand and rocks below the seabed.

Petrobras said additional investments starting with a first extension well are necessary to evaluate the exact volume of oil in the deposit.

Petrobras engineers recently have said pumping oil from the extreme depth of the Santos Basin is very expensive and challenging due to complicated geographical conditions.
Until now, no one had drilled through that thick salt layer and found oil, Petrobras Chief Executive Sergio Gabrielli said in July.

Brazilian media even have speculated a second oil province the size of the Campos Basin could lie below the Santos salt layer. The Campos Basin currently produces 80% of Brazil's oil production of close to 1.8 million b/d.
Oil analysts have said the new discovery is very important, but a determining factor for a possible production will be how high the costs really are to pump oil from the challenging depths of the Santos Basin.
The BM-S-11 exploration block lies 250 kilometers off the coast of Rio de Janeiro.
-By Bernd Radowitz, Dow Jones Newswires; +55-21-3288-5004; bernd.radowitz@dowjones.com;

ELMAT: now imagine: You go through 2.000m of water, then drill 2.000 to 3.000m of sand and rocks and again then 2.000m of salt to get to the oil.
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