Petrobras has completed the formation test on well 1-SPS-98 (1-BRSA-1063-SPS), informally known as Sagitario, located in the ultradeepwater of the Santo Basin presalt, according to a Petrobras press release. The results obtained have confirmed the discovery announced on Feb. 25, 2013, when the well was still in the drilling phase. The test has revealed carbonate reservoirs with good permeability.

This is the first well to be drilled in Block BM-S-50, and it is situated 194 km (121 miles) off the Sao Paulo coast at a water depth of 1,871 m (6,138 ft).

The well has reached the total depth of 7,110 m (23,327 ft). Starting at a depth of 6,144 m (20,157 ft), 159 m (522 ft) of presalt reservoirs bearing good quality oil—32?API—were detected.

The consortium operated by Petrobras (60%) in partnership with BG E&P Brasil (20%) and Repsol Sinopec Brasil (20%) will proceed with the activities provided for in the discovery evaluation plan approved by Brazil’s National Petroleum, Natural Gas and Biofuels Agency.