The discovery well 4-BRSA-818 (4-RJS-668) in Block BM-S-10 encountered oil with a medium density of approximately 26 degrees API.

The well is located in a water depth of 2134m, approximately 244km off the coast of Rio de Janeiro.

The company said that further evaluation of the discovery will continue in line with the National Petroleum Agency (ANP) approved appraisal plan.

BG Group has a 25% interest in BM-S-10 while Petrobras, the operator, has 65% with Partex having 10%.

BG Group is a global oil and gas company headquartered in Thames Valley Park at Reading in Berkshire in the UK.