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We present PHIBSS, the IRAM Plateau de Bure high-z blue sequence CO 3-2 survey of the molecular gas properties in massive, main-sequence star-forming galaxies (SFGs) near the cosmic star formation peak. PHIBSS provides 52 CO detections in two redshift slices at z ~ 1.2 and 2.2, with log(M"(M☉)) ⩾ 10.4 and log(SFR(M☉/yr)) ⩾ 1.5. Including a correction for the incomplete coverage of the M"-SFR plane, and adopting a "Galactic" value for the CO-H2 conversion factor, we infer average gas fractions of ~0.33 at z ~ 1.2 and ~0.47 at z ~ 2.2. Gas fractions drop with stellar mass, in agreement with cosmological simulations including strong star formation feedback. Most of the z ~ 1-3 SFGs are rotationally supported turbulent disks. The sizes of CO and UV/optical emission are comparable. The molecular-gas-star-formation relation for the z = 1-3 SFGs is near-linear, with a ~0.7 Gyr gas depletion timescale; changes in depletion time are only a secondary effect. Since this timescale is much less than the Hubble time in all SFGs between z ~ 0 and 2, fresh gas must be supplied with a fairly high duty cycle over several billion years. At given z and M", gas fractions correlate strongly with the specific star formation rate (sSFR). The variation of sSFR between z ~ 0 and 3 is mainly controlled by the fraction of baryonic mass that resides in cold gas. [ABSTRACT FROM AUTHOR]

We use the first systematic samples of CO millimeter emission in z ≥ 1 "main-sequence" star-forming galaxies to study the metallicity dependence of the conversion factor αCO, from CO line luminosity to molecular gas mass. The molecular gas depletion rate inferred from the ratio of the star formation rate (SFR) to CO luminosity, is ~1 Gyr-1 for near-solar metallicity galaxies with stellar masses above Ms ~ 101l M⊙. In this regime, the depletion rate does not vary more than a factor of two to three as a function of molecular gas surface density or redshift between z ~ 0 and 2. Below Ms the depletion rate increases rapidly with decreasing metallicity. We argue that this trend is not caused by starburst events, by changes in the physical parameters of the molecular clouds, or by the impact of the fundamental-metallicity-SFR-stellar mass relation. A more probable explanation is that the conversion factor is metallicity dependent and that star formation can occur in "CO-dark" gas. The trend is also expected theoretically from the effect of enhanced photodissociation of CO by ultraviolet radiation at low metallicity. From the available z ~ 0 and z ~ 1-3 samples we constrain the slope of the log(αCO)-log (metallicity) relation to range between -1 and -2, fairly insensitive to the assumed slope of the gas-SFR relation. Because of the lower metallicities near the peak of the galaxy formation activity at z ~ 1-2 compared to z ~ 0, we suggest that molecular gas masses estimated from CO luminosities have to be substantially corrected upward for galaxies below Ms. [ABSTRACT FROM AUTHOR]