RIO DE JANEIRO – Petróleo Brasileiro S.A. (Petrobras NYSE:PBR) has confirmed the presence of good quality oil (31º API) in ultra deepwater Santos basin presalt. Well 1-SPS-98 (1-BRSA-1063-SPS), informally known as Sagitário, is the first well drilled in block BM-S-50 and is 194 km (120.5 mi) off the coast of São Paulo state in 1,871 m (6,137 ft) of water.
The oil was found in carbonate reservoirs below the salt layer at a depth of 6,150 m (20,172 ft). The well is still drilling toward the planned depth of 6,950 m (22,796 ft), with the aim of defining the base of the oil reservoirs.
Petrobras has found several producing areas in Santos basin.
Petrobras is the operator of the consortium (60%) in partnership with BG E&P Brasil (20%), and Repsol Sinopec Brasil (20%).