Petrobras announces discovery of oil at the Sagitario prospect in the Santos Basin

(PN) Petrobrss notified the National Petroleum Agency (ANP) this week about the discovery of signs of oil in well 3-BRSA-1388DA-SPS, in the Sagitario prospect, within block S-M-623, in the Santos Basin. The discovery took place in a water depth of 1,866 meters. This is the second extension well in the area, which began to be drilled in July this year. Extension wells are drilled to expand or demarcate the limits of a deposit.

To remember, in January 2020, Petrobras announced the first discovery of signs of oil in Sagitario, through the first extension well (3-BRSA-1370-SPS). However, the company said that the initial results of the exploratory campaign were “below expectations”. Therefore, the oil company requested more time for exploratory and evaluation activities in the block.

In its request for a deadline extension, Petrobras claimed to the ANP that the information obtained with the first extension well in the area presented results below expectations. The company also added that the economic assessment of the northern area of the accumulation resulted in a strong negative impact on the project.

The ANP approved Petrobras’ request, extending the deadline for the Discovery Assessment Plan to March 5, 2024. One of the obligations imposed by the ANP in approving Petrobras’ request was precisely the drilling of a second extension well.