Brazil's pre-salt reserves provide half of oil production

Brazil's pre-salt reserves provide half of oil production

Chamber Articles Category: Industry News Post Date: 02/01/18 Source: ABC News By: The Associated Press
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Brazil's pre-salt oil reserves for the first time account for more than half of the country's production of oil equivalent, the National Petroleum Agency said Wednesday.

The agency said on its website that Brazil extracted 1.685 million barrels of oil from pre-salt reserves in December, which was 50.7 percent of the overall production of 3.325 million barrels.

The reserves lie offshore in the Atlantic more than a mile (1.6 kilometers) below the ocean's surface and under an additional 2.5 miles (4 kilometers) of soil and corrosive salt.

According to the agency, Brazil's pre-salt reserves accounted for 40 percent of total production in 2016. Read Full Article