Sugar Loaf field

The Carioca/Sugar Loaf field is a potential deepwater oil field in the Atlantic Ocean off the coast of São Paulo, Brazil. The field is possibly part of an important emerging petroleum basin known as the Santos Basin. Two other large oil fields have been discovered in this basin in 2006 and 2008, the Tupi and Jupiter fields. While there has been speculation that Sugar Loaf could contain between 25 and 40 billion barrels, the condition and size of the field has yet to be clarified, and other much lower estimates of 0.6 billion, 3 billion, 4 billion, and 10 billion barrels of recoverable oil have also been made for Sugar Loaf.