Tuesday, March 04, 2008 7:44:30 PM
The news is regarding the ultra-deep-water tupi field off Brazil. The field is at a water depth of 2,000 meters with another 5,000 meters of sand, rock and salt for the prize of 8 billion barrels of oil equivalent in recoverable reserves.
Regarding deep water rigs, PBR's CFO, Almir Barbassa said, "... exploration rigs for untradeep oil areas are currently particularly scarce due to heating up of the international oil industry. The company expects to receive more rigs in the next three years."
IMO, the news confirms that the service and product sectors for deep water are hotter than a five-dollar pistol and is going to get hotter as more rigs are built and arrive on line. Money to be made here simply and purely because of demand.
Trueheart
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