UK based BG Group, in consortium with Petrobras and Repsol Sinopec, has discovered light oil in Block BM-S-9 in the Santos Basin, offshore Brazil.

The discovery well 3-BRSA-861-SPS in the Carioca area is located in a water depth of 2 151m, approximately 275km off the coast of the Brazilian state of Sao Paulo.

Initial analysis of the discovery has confirmed the presence of a light oil accumulation (about 26 degrees API) in a 200m reservoir section.

The companies have concluded drilling on this well and drill stem tests will be conducted in due course.

Block BM-S-9 is comprised of two appraisal areas – Guara and Carioca.

BG Group holds a 30% interest in this block, while Petrobras and Repsol own 45% and 25% interests, respectively.