Total’s plans for Brazil’s new oil frontier snagged on Amazon reef – Update

OIAPOQUE, Brazil – Deep beneath the waters of the Atlantic off Brazil’s most northern coast, French major Total SA (TOTF.PA) is hunting for what it hopes will be Latin America’s next big oil discovery.

Metal drill bits, pipes and containers filled with equipment sit in the tropical port of Belém, near the mouth of the vast Amazon River, ready to sink the first exploratory wells 120 km (75 miles) offshore.

Some geologists say the area, known as the Foz do Amazonas Basin, may contain as many as 14 billion barrels of petroleum, more than the entire proven reserves of Mexico.

Read more

Categories: Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s