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The deep-water region of this basin is still mostly uncharted. The blocks where Equinor holds acreage are in water depths between 1800 and 2500 metres offshore Espírito Santo state.
Equinor (then Statoil) was awarded 40% of deep-water licence BM-ES-32 in the Seventh Bidding Round in October 2005. Petrobras is the operator with a 60% equity. One well was drilled in 2010 in the first exploration period and resulted in the Indra oil discovery, which extends as far as the adjacent BM-ES-22. In December 2013, Equinor (then Statoil) submitted the Discovery Appraisal Plan (PAD) for Indra, which is ongoing.
In March 2014, the ANP (Brazilian National Agency of Petroleum, Natural Gas and Biofuels) approved Equinor's (then Statoil's) acquisition of Vale SA's 25% interest in the BM-ES-22A licence for which Petrobras is the operator with a 75% interest. The São Bernardo discovery was made in 2013, and is currently in the appraisal phase. The operator has reported indications of oil in two reservoirs in the exploration well.