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Home They discover the largest oil deposit on the planet: 511 billion barrels, equivalent to 32 times the volume of reserves in Brazil, more than double that of Saudi Arabia and ten times the total production of the North Sea

They discover the largest oil deposit on the planet: 511 billion barrels, equivalent to 32 times the volume of reserves in Brazil, more than double that of Saudi Arabia and ten times the total production of the North Sea

15 May 2024 to 19: 30
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The estimate indicates that the deposit contains 511 billion barrels of oil. The area is the target of claims from Argentina and Chile.

The estimate indicates that the deposit contains 511 billion barrels of oil. The area is the target of claims from Argentina and Chile.

The Russia announced to have discovered one of the largest reserves of oil and natural gas on the planet. According to information, 511 billion barrels of oil were identified in Antarctica, a volume that more than doubles Saudi Arabia's reserves and is 32 times greater than the proven deposits of 15,8 billion barrels in Brazil. This total still represents around 10 times the total production of the North Sea over 50 years. The area in question is claimed by Argentina and Chile.

The news was published by the British newspaper Telegraph. The discovery of oil was made in the Weddell Sea (located further down), by exploration ships from the Russian agency Rosgeo, and reported to the Russian government, according to reports presented to the UK House of Commons last week.

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The region is protected by the 1959 Antarctic Treaty, which prohibits any mineral or oil development on the continent.

The Weddell Sea is part of the Southern Ocean, at the south pole, and is bounded by the bay formed by the coast of Coats Land and the Antarctic peninsula.

The United Kingdom classifies this area as part of its overseas territory, which is also claimed by Argentina and Chile. The region is protected by the 1959 Antarctic Treaty, which prohibits any mineral or oil development on the continent.

Moscow is suspected of carrying out prospecting for the purpose of extracting oil, rather than mere scientific research

According to The Telegraph, David Rutley, UK Parliamentary Under-Secretary for the Americas and the Caribbean, told the House of Commons that he had received assurances from Russia that the country was merely conducting a scientific investigation with no intention of extracting the Hydrocarbons. Rutley also highlighted that “Russia recently reaffirmed its commitment to key elements of the treaty”.

However, there is concern among British parliamentarians and environmentalists about Russia's trustworthiness. The suspicion is that Moscow has carried out prospecting for the purpose of extracting Hydrocarbons, rather than mere scientific research, as claimed.

Moscow-based Rosgeo was approached by the Telegraph but did not respond to requests for comment.

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