BG Group has made a new oil find in block BM-S-10 in the Santos Basin, offshore Brazil.

Discovery well 4-BRSA-818 (4-RJS-668), dubbed Macunaima, is situated in a water depth of 2,134m, 244km off the coast of Rio de Janeiro.

The find has an oil gravity of 26° API.

The firm will conduct further evaluation of the discovery in line with the National Petroleum Agency’s approved appraisal plan.

BG Group has a 25% interest in the block, Petrobras holds a 65% stake and Partex 10%.