Petrobras has confirmed the presence of good quality oil in well 3-RJS-706 (3-BRSA-1132-RJS), located in block BMS-11 of the Iara area, in the Santos Basin pre-salt. The well is 226 km off the coast of Rio de Janeiro and 6 km from the discovery well (1-RJS-656, Iara), at a water depth of 2,197 meters.

This well, the fourth in the Iara area, is still at the drilling stage which is to continue with the aim of defining reservoirs containing oil. Cable samples have confirmed 28º API oil in good quality carbonate reservoirs, starting at a depth of 5,260 meters.

The Consortium is proceeding with the activities outlined in the evaluation plan approved by Brazil's National Petroleum Agency (ANP), including a formation test to assess the reservoir's productivity.

Petrobras is the consortium operator (65%) in partnership with BG E&P Brasil (25%) and Petrogal Brasil/Galp Energia (10%).