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

(PN) Petrobras informed the National Petroleum Agency (ANP) that it found new signs of oil in well 3-BRSA-1388DA-SPS, located in block S-M-623, where the Sagitario prospect is located. The discovery took place in a water depth of 1,866 meters, in the pre-salt of the Santos Basin.

The first discoveries of signs of oil in block S-M-623 occurred in 2013, through pioneer well 1-BRSA-1063-SPS. In January 2020, Petrobras announced another discovery, this time in the block’s 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 2021, the ANP approved Petrobras’ request, extending the Discovery Assessment Plan deadline to March 5, 2024.

One of the obligations imposed by the ANP in approving Petrobras’ request was the drilling of a second extension well – which happened in July this year, with the drilling of well 3-BRSA-1388DA-SPS. Extension wells are used to expand or demarcate the limits of a deposit.

A few months later, at the beginning of October, the oil company notified the ANP about the first signs of oil found in this second extension well, in a water depth of 1,866 meters.