The Jupiter project in deep waters off the Brazilian coast has been commended as the most important find of 2008.

The Rigzone report notes that the ultra-deep pre-salt reserves were unearthed by the Jupiter pioneer well in the Santos Basin earlier this year and confirmed and filed with authorities in September.

A total of 120 meters of oil and gas pay were encountered, although questions have been raised about the profitability of getting through the salt at a time when oil prices are at four-year lows.

Taking second place in the report was the Wahoo find, again in Brazilian pre-salt waters, with Anadarko hitting 49 meters net pay in the Campos basin in late September.

The third and fourth position were taken by discoveries in the Gulf of Mexico, with BP reporting substantial hydrocarbon sands at the Kodiak and Freedom/Gunflint wells, both in Mississippi Canyon.

Fifth place was taken by Nido for twin discoveries made in the Philippines which resulted in a combined net pay of 197 meters.


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