Brazil: Carioca discovery potentially one of the largest oilfields in the world

PETROBRAS has made a new discovery in the Santos basin that could contain as much as 33bn barrels of oil equivalent (boe), according to Haroldo Lima, head of upstream regulator Agência Nacional do Petróleo (ANP). For now, state-controlled Petrobras, which operates the Santos basin's block BM-S-9, with a 45% share, has not confirmed ANP's claim. It says "more conclusive" data are needed and plans to drill further wells before estimating the size of the discovery, which is being referred to as Carioca. Petrobras first informed ANP of the presence of hydrocarbons in BM-S-9 in September, having drilled one well. It began a second well in March, although this is yet to reach its pre-salt target.