A consortium comprising of Brazilian integrated energy firm Petrobras and Portuguese firm Galp Energia has announced the discovery of light oil in a block in the deep Santos basin 280km off the coast in the state of Sao Paolo.
The pioneer well is located 2,234 meters below sea surface and at a depth of 5,350 meters. Petrobras said that the discovery was proved through signs of oil and via profile interpretation, in reservoirs nestled at a depth of nearly 5,000 meters. The well has not been tested yet due to operational and logistical reasons.
The consortium has stated that it will undertake the necessary activities and make the required investments to check the field’s dimensions and verify the oil reservoir’s characteristics. Petrobras is the operator of the block having a stake of 80% and the Galp Energia holds the rest of the 20%.