The oil deposit, which was discovered at a depth of approximately 3,550m through the appraisal drilling, was confirmed through analysis of logging data and fluid samples obtained by a wireline tester.
The BM-ES-23 concession is located 115km off the coast of the state of Espírito Santo in southeastern Brazil, where water depth ranges from 1,800m to 2,000m.
Inpex through its subsidiary Inpex Petróleo Santos owns a 15% participating interest in the concession.
The company also carried out exploration activities in the concession in cooperation with Petrobras (operator) and Shell, which own 65% and 20% participating interests, respectively.
Inpex and its partners will now evaluate the data gathered on the well and will continue to drill down to a depth of 4,500m to assess potential for new oil and natural gas deposits.
Inpex focuses on exploration activities in areas including deepwater zones for the sustained expansion of its upstream business.
The oil and gas exploration and production company has more than 70 active projects across 27 countries.
