New Brazil discovery may be giant

A new field, Sugar Loaf in block BM-S-9 may contain up to 33 Bboe, Haroldo Lima, head of Brazil's National Petroleum Agency, said today.

Apr 14th, 2008

Offshore staff

RIO DE JANEIRO, Brazil –A new field, Sugar Loaf in block BM-S-9 may contain up to 33 Bboe, Haroldo Lima, head of Brazil's National Petroleum Agency, said today.

Sugar Loaf is on a large structure that extends into the Carioca field in adjacent block and may also stretch into BM-S.21 and BM-S-22 blocks in Santos basin.
BM-S-9 is operated by Petrobras with a 45% stake, while BG Group holds 30% and Repsol-YPF 25%. The BM-S-21 block is operated by Petrobras with a 80% stake, while Galp Energia holds 20%. The BM-S-22 block is operated by ExxonMobil Corp. with a 40% stake, while Hess Corp. holds 40% and Petrobras 20%.

04/14/2008

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