SAO PAULO Dec 19 A consortium led by Brazil's
state-controlled oil company Petróleo Brasileiro SA
found good-quality oil in the sub-salt Carioca offshore field,
which might have about 459 million barrels of oil equivalent in
Petrobras, as the company is known, said in a securities
filing late on Thursday that the field was declared commercial
and will submit the plan to develop Carioca to regulatory
watchdog ANP within 180 days.
The Carioca field, which will be renamed "Lapa" by Petrobras
and its partners, is located in the so-called sub-salt polygon -
an offshore area half the size of Italy. It covers oil provinces
that produce more than 80 percent of Brazil's output and may
contain as much as 100 billion barrels of oil, according to Rio
de Janeiro State University.
The consortium is formed by Petrobras, BG Group Plc
and a joint venture between Spain's Repsol SA and China
Petroleum and Chemical Corp , also known as Sinopec.