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ANP: Libra find could double Brazil's crude oil reserves

11/15/2010
Eric WatkinsOil Diplomacy EditorBrazil's National Petroleum Agency (ANP) said the country's offshore Libra subsalt oil discovery could hold as much as 15 billion bbl of oil—a figure 2.4 billion bbl greater than the country's existing reserves."The volume of recoverable oil belonging to the nation could vary from 3.7-15 billion bbl, with the most likely estimate being 7.9 billion bbl," ANP said, citing a study carried out by certification firm Gaffney, Cline & Associates."It's important to stress that the Libra prospect alone could hold recoverable oil volumes that exceed Brazil's current proven reserves," ANP's statement said. According to OGJ figures, Brazil...
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