Sentences with phrase «pre-salt oil reserves»

Brazil's offshore pre-salt oil reserves are estimated to hold 70 — 100 billion boe of oil and gas.

If the Brazilian government carefully manages the growth of its energy supply from its competitively advantageous pre-salt oil reserves and renewable energy, it has significant sustainable investment potential.

While the government hopes to save 18 billion Reais (GBP # 4.1 billion; USD$ 5.5 billion) per year with social security reforms, they have just approved annual tax cuts of 50 billion Reais (GBP # 11.4 billion; USD$ 15.2 billion) for foreign oil companies willing to explore the pre-salt oil reserve (one of the largest in the world), the benefits of which were to be directed, by law, to public health and education.

Not exact matches

But with traditional petroleum reserves in shallower waters waning and advanced geological surveying techniques pointing to tantalizing reserves below, companies now know the pre-salt oil is too good to ignore.

Just the proven reserves in three different Brazilian pre-salt exploration areas total 10 billion to 16 billion barrels, the largest oil discovery in the Western Hemisphere in three decades.

According to estimates, all known pre-salt reserves can house about 80 billion barrels of oil.