The field is situated off Brazil’s south eastern Atlantic coast. Petrobras holds a 65% stake in Block BM-S-11 where Tupi was discovered and is the operator. BG has a 25% stake, and Portugal’s Galp Energia holds 10%. BG Group estimates total hydrocarbons in place on the Tupi discovery to be 12-30 billion boe or more, with the field to be delivering one million barrels per day by 2013-2015. This oil discovery could raise Brazil into the ranks of the world’s major oil exporters