Brazil’s state-owned oil company Petrobras and BP have announced an oil discovery in a deep-water well located in the Ceara Basin offshore of Brazil.

Petrobras, the operator of the concession with a 60% stake, said it found a 290m-long hydrocarbon column with 140m of net pay in the newly-named Pecem well.

The well was drilled in 2,129m of water and to a depth of 4,410m beneath the seabed. Petrobas plans to extend the well to 5,500m, reports Reuters.

The oil was found in sliclastic structures in the Paracuru formation 76 kilometres off the coast near Fortaleza, Petrobras said.

Petrobras, along with other companies, is currently testing theories to check whether the same geological systems which created and trapped oil off the west coast of Africa are present in Brazil’s north-east.