Brazil’s state-run Petrobras has confirmed the Sagitario discovery it made earlier this year in the ultra-deep waters of the pre-salt Santos basin.
Petrobras said results from a formation test carried out on the Sagitario well, formally known as 1-SPS-98, had confirmed the discovery and revealed carbonate reservoirs with good permeability.
The Sagitario well was drilled in February 2013 and hit good quality oil graded at 31 degrees API in Sagitario just below the thick salt cap at a depth of more than 6150 metres.
The well was drilled on Block BM-S-50, which lies roughly 194 kilometres off the Sao Paulo coast in a water depth of 1871 metres.
Petrobras operates the block with a 60% stake and is partnered by BG Group and Repsol Sinopec Brasil which each hold a 20% interest .
Josh Lewis 21 May 2014 01:25 GMT