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Aramco eyes Brazil's 'pre-salt' oil
- Saudi Arabia: Monday, September 28 - 2009 at 09:32
Dilma Rousseff, chief-of-staff to Brazilian President Luiz Inacio Lula da Silva has said that Saudi Aramco, along with other international oil companies, has expressed interest in helping his country develop its so-called pre-salt oil reserves, the Wall Street Journal has reported. According to government estimates, Brazil's chief discovery of pre-salt oil contains at least 5 billion to 8 billion barrels of oil, while industry analysts estimate the total pre-salt reserves to be much higher. 'Although we have reserved the greatest role for the government, we also want international companies to participate. The pre-salt reserves are so huge that even 10% of them would represent a huge field for development,' Roussef said.
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StaffMonday, September 28 - 2009 at 09:32 UAE local time (GMT+4)
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