Brazilian state-owned oil company Petrobras announced Friday that it has found oil of "excellent quality and free of contaminants" in the pre-salt layer of the Santos Basin.

The well, 3-BRSA-1396D-SPS, is in the Aram block and is located 248 kilometers from the city of Santos on the coast of São Paulo. The well is located at a depth of 1,952 meters below the water.

This is the second discovery of an oil well classified as excellent in the same block of the Santos Basin this year.

In March, Petrobras reported that it had identified signs of oil in well 4-BRSA-1395-SPS, at a water depth of 1,759 meters and 245 kilometers from the city of Santos.

"The company will now begin the laboratory analyses necessary to identify and characterize the conditions of the well found, assessing the potential of the area," the company said.

According to the company, in addition to the studies, two other wells will also be drilled and tested within the Assessment and Discovery Plan.

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--Reporting by Priscilla Antunes, pantunes@opisnet.com; Editing by Michael Kelly, mkelly@opisnet.com

(END) Dow Jones Newswires

May 09, 2025 10:32 ET (14:32 GMT)

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