Petrobras has discovered light oil in the pre-salt layer in the Campos Basin, in the Marlim field Production Concession, offshore Brazil.

The pre-salt reservoir is 4,460m below the ocean floor off the coast of Rio de Janeiro.

It is estimated to hold almost 400 million barrels of oil equivalent and could produce as much as 380 million barrels of oil equivalent.

Petrobras said tests will be carried out to assess the productivity of the reservoir.