Lula Submits Subsalt Bills

The Brazilian congress has finally begun debating reform of the country's oil and gas sector after President Lula da Silva submitted four energy bills on August 31. The reforms, envisaged since 2007, will establish the framework of hydrocarbon exploitation in the ultra deepwater subsalt play, which the Brazilian government claims to hold between 60bn and 100bn barrels (bbl) of oil reserves.

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