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BG says Brazil's Tupi may be 10 bln-barrel field

LONDON, Feb 8 (Reuters) - UK oil explorer BG Group Plc BG.L said the Tupi field in Brazil, which it is exploring with state-run oil firm Petrobras PETR4.SA, could contain over 10 billion barrels of oil and gas.

Chief Executive Frank Chapman said oil in place, which is usually much larger than recoverable reserves, was at least 1.7 billion barrels of oil equivalent (boe) and could be over 10 billion boe.

“The scale is potentially huge,” Chapman told a press conference in London on Thursday.

BG has a 25 percent stake in the field in the Santos Basin, offshore Brazil. Petrobras, the project operator, has 65 percent and Portuguese oil company Petrogal [PETP.UL] has 10 percent.

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