Good quality crude oil has been found in deep waters beneath pre-salt region of the Santos Basin, Brazilian oil giant Petrobras announced on 21 March.
The discovery was found during drilling of a well, known as Carcará, 232km off the coast of São Paulo. Petrobras operates the well with a 66 per cent stake.
Sampling confirmed the presence of oil of approximately 31º API in reservoirs at a depth of 5,750m.
The well is still being drilled to determine the lower limit of the reservoirs and identifying other possible zones of interest, said Petrobras in a statement.
Carcará is the third well drilled in the area of the so-called Discovery Assessment Plan area and is 20km from the discovery well, at a water depth of 2,027m.
The oil consortium will continue the necessary activities and investments to assess the area, according to the plan approved by the Brazilian National Oil, Natural Gas and Biofuels Agency (ANP).
The Brazilian pre-salt fields span across approximately 160,000 sq km and are thought to hold between 50-80bn barrels of crude oil.