Exxon’s Brazil Discovery May Contain 8 Billion Barrels of Oil
bloomberg.com
From the article:"...March 13 (Bloomberg) -- Exxon Mobil Corp.’s oil discovery off the coast of Brazil may hold enough crude to rival the nearby Tupi prospect as the Western Hemisphere’s largest find in three decades."..."...The Brazilian prospects cover an area the size of the U.S. state of Florida about 170 miles (274 kilometers) offshore under more than 16,000 feet of water, rock and salt, Lemos said. The region will require $500 billion in investments over the next few decades for pipelines, production platforms, gas-processing plants and other infrastructure, he said..."
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Very bullish for PBR, XOM, ULTR, GGB, DPDW and all the other companies that provide the deep drilling rig platforms (RIG, SFL, DRYs) and support services.
EKS |
