Exploration in the Santos Basin started in the 1970s.
Between 1970 and 1987, 59 dry wells were drilled, with one discovery in Santonian turbidites in 1979, Merluza Field.
From 1988 to 1998, 45 wells were drilled in the basin providing small discoveries, with the 30 million barrels (4.8 million cubic metres) of oil equivalent Tubarão Field discovered in 1988.
Eighty-one wells were drilled from 1999 to 2005, leading to the discovery of the Mexilhão Field.
Exploration boomed between 2006 and 2012, with 166 wells and the giant Lula Field (8 BBOE), discovered at the Tupi prospect in 2006.
In 2013, the Sagitário Field was discovered in the sub-salt carbonates at a water depth of 1,871 metres (6,138 ft) and a true vertical depth of 6,150 metres (20,180 ft).

In 2014, the pre-salt reservoirs of the Santos Basin produced more than 250 thousand barrels per day (40×10³ m³/d).
Thanks to the pre-salt production, compensating for the declining post-salt production, the total oil production of Brazil rose above 2,500 thousand barrels per day (400×10³ m³/d) in April 2016.
The Lapa Field, originally named Carioca, was taken in production in December 2016.
In 2017, the Santos Basin accounted for 35% of Brazil's oil, with the Campos Basin at 55%.
In the same year, 76 blocks were open for bidding in the Santos Basin.
Exploration in the Santos Basin started in the 1970s. Between 1970 and 1987, 59 dry wells were drilled, with one discovery in Santonian turbidites in 1979, Merluza Field. From 1988 to 1998, 45 wells were drilled in the basin providing small discoveries, with the 30 million barrels (4.8 million cubic metres) of oil equivalent Tubarão Field discovered in 1988. Eighty-one wells were drilled from 1999 to 2005, leading to the discovery of the Mexilhão Field. Exploration boomed between 2006 and 2012, with 166 wells and the giant Lula Field (8 BBOE), discovered at the Tupi prospect in 2006. In 2013, the Sagitário Field was discovered in the sub-salt carbonates at a water depth of 1,871 metres (6,138 ft) and a true vertical depth of 6,150 metres (20,180 ft).
In 2014, the pre-salt reservoirs of the Santos Basin produced more than 250 thousand barrels per day (40×10³ m³/d). Thanks to the pre-salt production, compensating for the declining post-salt production, the total oil production of Brazil rose above 2,500 thousand barrels per day (400×10³ m³/d) in April 2016. The Lapa Field, originally named Carioca, was taken in production in December 2016. In 2017, the Santos Basin accounted for 35% of Brazil's oil, with the Campos Basin at 55%. In the same year, 76 blocks were open for bidding in the Santos Basin.
Santos Basin