Brazil Makes Gargantuan Discovery

Brazil has discovered an oil field that holds between 5 billion and 8 billion barrels - equivalent to 40% of all the oil ever discovered in Brazil. However, full-scale extraction is unlikely to start before 2013 due to the "Tupi" field being "ultra-deep." 7,060 feet of water, almost 10,000 feet of sand and rocks, and then another 6,600-foot thick layer of salt are in the way.  Brazil's 15.1 billion barrels in oil reserves currently ranks 17th in the world.

 

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