Petroleo Brasileiro (Petrobras) has discovered oil accumulation off the coast of Sao Paulo state in Brazil.

Sampling tests at well 4-SPS-86B (Carcará) in block BM-S-8 in the ultra deep waters of the pre-salt of Santos Basin confirmed the presence of oil of approximately 31º API in reservoirs 5,750m deep.

The company will continue to drill the well in a bid to determine the lower limit of the reservoirs, as well as to identify other possible zones of interest.

It said that Carcara is the third well drilled water depth of 2,027m in the area of the discovery evaluation plan of 1-BRSA-532A-SPS.

Petrobras is the operator of the consortium with a 66% stake, Petrogal Brasil owns 14%, Barra Energia do Brasil Petróleo e Gás holds 10% and Queiroz Galvão Exploração e Produção also has 10%.