Brazil Prepares to Surprise Drillers This Time With Gas: Energy
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As Brazil prepares for its first-ever auction of shale-gas acreage, it has a message for global prospectors: The country that discovered the world’s biggest offshore oil finds this century may have almost twice as much natural gas onshore as is currently estimated.
Brazil’s energy regulator known as ANP made the assertion in a preliminary estimate of potential reserves, in an e-mail to Bloomberg News. The estimate is 88 percent higher than the U.S. Energy Information Administration’s calculation that Brazil may have 226 trillion cubic feet of gas held in shale, a sedimentary rock increasingly being harvested for fuels around the world.