P581 DEEP WATER EXPLORATION IN PORTUGAL – THE NEXT EUROPEAN BONANZA? Abstract Summary 1 New basins (or sub-basins) with substantial sediment thickness have been identified and previously identified but poorly defined basins have been firmed up. All of the studied basins appear to contain the factors necessary for effective petroleum systems. Giant potential is envisaged in this frontier area. Few “ virgin areas” like these are left at the doorstep of the major European oil and gas market. Extensive exploration activity is anticipated in the deep waters offshore Portugal in the near future. Interpretation of the first portion of a


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