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Brazil confident of Libra oil field success
2014-01-25

 A term that hardly anyone outside oil industry would have ever heard of and, even if they had, it holds few clues as to what it really is.Those two incongruous, single-syllable words hold the key to Brazil's hopes of becoming a major oil producer, securing billions of dollars in revenue and helping to boost a faltering economy.

Not far off the coast of Rio de Janeiro State, and just to the north east of the famous coastal city is the area in question.
It is an almost unimaginably large oil deposit; 1,500 sq km (579 sq miles) and 326m (1,070ft) deep. Although it lies well beneath the sea bed, under a thick layer of rock and salt, the find is said to be relatively risk-free. Estimates vary but it could hold as many as 12bn barrels of oil.
The find has been called "Libra" and Brazil is about to auction off the rights to develop the site, with some pretty tight strings attached.
Magda Chambriard is the Director General of Brazil's National Oil Agency. For her it's a win-win situation.
We discussed Libra and its implications for Brazil as a global oil producer, in her Rio de Janeiro headquarters. She dismissed, with a wry smile, suggestions the country didn't have the experience or infrastructure to cope with such a huge undertaking as the development of the Libra field.
"Everything is very well planned. There are new platforms, new pipelines, more infrastructure," said the woman who trained as an oil engineer but is now one of the most powerful figures in the industry.
"Everything here in Brazil is happening in the correct way so we are very confident that everything will be OK."
Just to the north of Rio de Janeiro, the once small fishing village of Macae is the closest land point to the offshore fields.
It's not quite El Dorado but property prices here are already among the highest in the country and these days the noise of helicopters ferrying workers out to the existing rigs is much louder than the chug of fishing boats around the mangroves.
Realising the urgent need for able workers if Brazil is to make the most of its impending oil boom, the local authority here is training hundreds of people to work on the rigs. Many are migrant workers from other parts of Brazil, like 32 year-old Claudia, who is learning to be a skilled welder.