OGX has found hydrocarbons in the shallow waters of the Santos Basin, offshore Brazil.

An oil column of 195m with 43m of net pay was encountered in the carbonate reservoirs of the Albian section of well 1-OGX-17A-RJS, which is located in the BM-S-56 block in the Santos Basin.

The drilling of well OGX-17, known as the Belem prospect, is still in progress and is expected to continue until a maximum final depth of around 5,800m, said OGX.

The OGX-17 well is situated approximately 85km off the coast at a water depth of 135m.