ONGC, Brazil's Petrobras discover oil off Sergipe's coast

State-owned Oil and Natural Gas Corp (ONGC) and its partner Petrobras of Brazil have discovered a new oil field in deep waters off Brazil.

The discovery of light oil was made in well 3-SES-189 in BM-SEAL-4 deep water block off the coast of the northern state of Sergipe, Brazil's state-run Petroleo Brasileiro SA (Petrobras) said in a statement.

"The reservoirs contain light oil of good market value and are 85 meters wide, with good porous and permeable conditions," it added.

The well, informally known as the Green Well 4, is the third to be have been drilled in the area since July 2012.

ONGC Videsh Ltd, the overseas arm of state-owned explorer, holds 25 per cent stake in the block which is operated by Petrobras with 75% interest.

The well, located in the Poço Verde area discovered in 2012 in the BM-SEAL-4 exploration block, was drilled down to 5,350 meters in waters 2,479 meters deep.

Petrobras said drilling began on April 6 and another test is needed to confirm the conditions and establish the well's potential.