The word on Carioca and Sugar Loaf, two fields that possibly comprise one and the same super-giant oil field off Brazil, just reached my attention in comments by a Brazilian energy minister on Monday. The official was apparently citing a February magazine article. Petrobras will neither confirm nor deny the figures flying about, and instead chooses to wait for more data to come in.
So what are investors to make of all this? It would be a mistake to draw too firm a conclusion about the number of barrels here. All the same, it's worth familiarizing ourselves with the four petroleum parcels in play.
The Carioca test well, which Petrobras has confirmed as a discovery, lies in a Petrobras-operated block in which Repsol YPF
There are two more blocks nearby, one of which is operated by ExxonMobil
Fortunately, one thing here is certain. Deepwater drillers like Noble