Petrobras said in a press release posted on its website that potential reserves at the giant gas field called Jupiter were located at a depth of about 5,100 meters (16,730 feet) beneath the surface of the Atlantic Ocean.
The discovery is the third in Brazil in recent months. In November 2007, Petrobras announced the discovery of a giant deposit of light crude and natural gas in the Tupi area on the shelf of the country's south-eastern coast with estimated reserves of around 8 billion barrels.
In December 2007, Petrobras discovered large gas reserves in the state of Espirito Santo neighboring on Rio de Janeiro.
The latest discoveries may boost Brazil's current 14-billion-barrel oil and gas reserves by more than 50% and make the country one of the world's top ten leaders in terms of oil and gas reserves.
