On January 21, 2008, Petrobras

Petrobras

Petróleo Brasileiro or Petrobras is a semi-public Brazilian multinational energy corporation headquartered in Rio de Janeiro, Brazil. It is the largest company in Latin America by market capitalization and revenue, and the largest company headquartered in the Southern Hemisphere by market...

 announced the discovery of the Jupiter field, a huge natural gas

Natural gas

Natural gas is a naturally occurring gas mixture consisting primarily of methane, typically with 0–20% higher hydrocarbons . It is found associated with other hydrocarbon fuel, in coal beds, as methane clathrates, and is an important fuel source and a major feedstock for fertilizers.Most natural...

 and condensate

Natural gas condensate

Natural-gas condensate is a low-density mixture of hydrocarbon liquids that are present as gaseous components in the raw natural gas produced from many natural gas fields....

 (very light oil) field which could equal the Tupi oil field

Tupi oil field

Tupi oil field is a large oil field located in the Santos Basin, off the coast of Rio de Janeiro, Brazil. The field was named in honor of the Tupi people and is considered to be Western Hemisphere's largest oil discovery of the last 30 years.-History:...

 in size (5-8 billion BOE

Barrel of oil equivalent

The barrel of oil equivalent is a unit of energy based on the approximate energy released by burning one barrel of crude oil. The US Internal Revenue Service defines it as equal to 5.8 × 106 BTU...

). It is located in the Santos Basin

Santos Basin

The Santos Basin is an offshore pre-salt basin. It is located in the south Atlantic Ocean, some south east of São Paulo, Brazil. One of the largest Brazilian sedimentary basins, it is the site of several recent significant oil fields, including Tupi and Jupiter....

, 37 km (23 mi) east of Tupi, 5100 m (16,732.3 ft) below the bottom of the Atlantic Ocean

Atlantic Ocean

The Atlantic Ocean is the second-largest of the world's oceanic divisions. With a total area of about , it covers approximately 20% of the Earth's surface and about 26% of its water surface area...

 in a water depth of 2187 m (7,175 ft), 290 km (180 mi) from Rio de Janeiro

Rio de Janeiro

Rio de Janeiro , commonly referred to simply as Rio, is the capital city of the State of Rio de Janeiro, the second largest city of Brazil, and the third largest metropolitan area and agglomeration in South America, boasting approximately 6.3 million people within the city proper, making it the 6th...

.