Petroleo Brasileiro, known also as Petrobras, announced new oil samples confirmed the presence of medium crude oil in its Carcara prospect in ultra-deep waters associated with the Santos Basin in the south Atlantic.
"The in-progress drilling has already confirmed an over 1,300-foot column of oil, featuring mostly continuous and connected reservoirs," the company said in a statement.
Petrobras last week said it would charter 12 floating drilling platforms for use in the Santos Basin. The Brazilian government will have a majority stake in the platforms, which Petrobras will charter for 15 years.
The company expects delivery of the platforms by 2016. They are designed to operate in waters as deep as 9,800 feet.
Petrobras said there was an estimated 2.1 billion barrels of oil equivalent in the region.
Notable deaths of 2014 [PHOTOS]