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BRAZIL LOGS RECORD OIL RESERVES LEVEL

March 23, 1992

Brazil jumped its oil reserves to record levels in 1991. Petroleos Brasileiro SA reported an 8.1% rise in oil reserves to 3.03 billion bbl in 1991 from the previous year. Petrobras also listed an 8% rise in gas reserves to 123.8 billion cu m. Brazil's additions to reserves in 1991 were almost double production of about 228 million bbl for the year. Natural gas reserves growth of 15.8 billion cu m in 1991 compares with gas production of 6.6 billion cu m.

Brazil jumped its oil reserves to record levels in 1991.

Petroleos Brasileiro SA reported an 8.1% rise in oil reserves to 3.03 billion bbl in 1991 from the previous year. Petrobras also listed an 8% rise in gas reserves to 123.8 billion cu m.

Brazil's additions to reserves in 1991 were almost double production of about 228 million bbl for the year. Natural gas reserves growth of 15.8 billion cu m in 1991 compares with gas production of 6.6 billion cu m.

Petrobras cites big reserves additions in Campos basin fields, notably supergiants Albacora and Marlim. Campos fields accounted for most of the gas reserves increase, with other additions in the Amazon and Santos basins.