Geologist: Brazil oil reserves maybe 55B barrels

  • Business Premium
  • Tuesday, 19 Aug 2008

BRASILIA, Brazil (AP) - A prominent geologist says Brazil's offshore oil reserves could hold as much as 55 billion barrels of crude.

Marcio Melo, president of the Brazilian Association of Petroleum Geologists, says studies suggest reserves in the ultra-deep pre-salt layer may contain several times more oil than initially estimated.

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