Petrobras, a Brazil-based integrated oil and gas company, has discovered oil at 1-SPS-98 well (1-BRSA-1063-SPS) located in ultra-deep waters of the Santos basin pre-salt in Brazil.
The company has completed the formation test at the well, informally known as Sagitario, and the results confirmed carbonate reservoirs with good permeability.
The company said that while the well reached a total depth of 23,326ft (7,110m), it encountered 521ft (159m) of pre-salt reservoirs bearing good quality oil (32 degree API) at a depth of 20,157ft (6,144m).
Sagitario is the first well to be drilled in block BM-S-50 and is located 120 miles (194km) off the Sao Paulo coast, at a water depth of 6,183ft (1,871m).
Petrobras confirmed the discovery to the market in February 2013, when the well was still in the drilling phase.
The partners in the well are Petrobras (operator) with 60% stake and BG E&P Brasil and Repsol Sinopec Brasil owning 20% each.
The operator, along with its partners, will proceed with the activities provided for in the Discovery Evaluation Plan (PAD) approved by Brazil’s National Petroleum , Natural Gas and Biofuels Agency (ANP ).
The Santos basin is located 352,260km² offshore the pre-salt basin in the south Atlantic Ocean, some 300km (190 miles) south-east of São Paulo, Brazil.
One of the largest Brazilian sedimentary basins, Santos is the site of several recent (2007 and later) significant oil fields, including Tupi, Jupiter and Libra.
Image: Block BM-S-50 is situated 194km off the São Paulo coast. Photo: courtesy of Petróleo Brasileiro S.A. / Petrobras.