Brazilian independent Prio has found oil in the Maracana exploration well drilled inside the ring-fenced area of the Frade deep-water field in the prolific Campos basin.

The company said it had encountered a 36-metre oil column in Eocene-aged sandstone reservoirs with the Maracana well. It also found oil in the secondary target in Miocene-aged sandstones using the Ocyan semi-submersible rig Norbe VI for the programme.

The find was described merely as detecting “indications” of oil, using a term that is required under Brazilian regulations for initial notification of any discovery.