Brazilian state-owned Petrobras is preparing an appraisal well in search of more advantages from the Santos Basin pre-salt

A Petrobras plans to drill an appraisal well on the Sagitário prospect in the second quarter, seeking more pre-salt value in the Santos Basin. Plans to re-drill in Sagittarius were announced by Repsol, Petrobras' main Spanish partner in Block SM-623, together with the large Anglo-Dutch company Shell.

The Sagittarius well discovered in 2012, produced samples of light oil at a water depth of 1873 meters, but due to inconclusive tests on the asset's commerciality, it ended up being postponed. The new evaluation program must include a new well test.

Repsol also referred to the expected production dates and volumes of the BM-C-33 permit operated by Equinor, where Pão de Açúcar, a large oil field rich in gas, is located.

In a long-term forecast, announced in conjunction with its quarterly report, Repsol said it expects the first oil and gas from Pão de Açúcar between 2024 and 2026, and has forecast net revenue of 45.000 barrels of oil equivalent per day from its 35% in operating rights.