The name 'Lula' means squid in Portuguese but also refers to Luiz Inácio Lula da Silva.

[5] The upper estimate of 8 billion barrels (1.3 billion cubic metres) of recoverable oil would be enough to meet the total global demand for crude oil for about three months at the 2008 global extraction rate of around 85 million barrels per day (13,500,000 m3/d).

[3] The Tupi accumulation, in block BM-S-11 of the Santos basin, contains at least 5 billion barrels (0.79 km3) of recoverable oil which could increase Brazil's reserves by 62%.

Tupi is a sub-salt discovery—held in rocks beneath a salt layer that, in places, reaches thicknesses of over 2,000 metres (6,600 ft).

[8] Block BM-S-11, which contains the Tupi field, is operated by Petrobras with a 65% controlling stake while BG Group holds 25% and Galp Energia has the remaining 10% interest.

[10] On April 22, 2009, BW Offshore and Petrobras let up the first crude oil from test well at Tupi field.