Brazil's state-owned oil company Petroleo Brasileiro S.A. (Petrobras) may have discovered another site of massive offshore oil reserves just months after it announced the largest petroleum discovery in years. If tests show that the offshore deposit in the Espirito Santo field in the Atlantic Ocean contains as much as early reports claimed, it would be the world's third-largest reserve and the world's biggest discovery in decades. Carioca four times bigger than Tupi? In the final months of 2007, Petrobras announced the discovery of 5 billion to 8 billion barrels of oil and natural-gas reserves at the offshore Tupi field. The discovery had the potential to make Brazil one of the top 10 oil producers in the world, the company said. Press reports soon followed saying an even bigger field might be nearby.
NotiSur. "Petrobras Examining Potential New Oil-field Discovery." (2008). http://digitalrepository.unm.edu/la_energy_notien/154