Tupi Oil Field Surpasses 4 Billion Barrel Mark, Marks Major Milestone
The Tupi oil field in Brazil's Santos Basin has achieved a significant milestone. With over 4 billion barrels of oil equivalent (boe) produced, it is now the first asset in Brazil's oil industry to reach this level of cumulative production.
This achievement comes exactly 20 years after the discovery of the Tupi oil field within the BM-S-11 concession in 2006. The milestone is particularly noteworthy as it marks a major turning point for the project, which has been operated by Petrobras since its inception.
The Portuguese oil giant Galp has participated in the exploration and development of Tupi through its joint venture Petrogal Brasil with Sinopec. Galp holds a 9.06% stake in the unitized field, while Petrobras operates it with Shell (22.65%) and PPSA (0.83%) as partners.