The development stages:Exploration drilling/2008-06,In production - under development/2016-09.BM-S-24 is a pre-salt concession area that is part of the prolific Santos basin. It covers an area of 1,394 square kilometers and is home to the Bracuhy and Jupiter fields, which have proven potential based on the results of the several wells drilled there. Natural gas, condensate, CO2 and oil were discovered in these wells. The block also hosts the Sepia field which was declared commercially viable by Petrobras in September 2014 and presents good quality oil (about 26º API). Sepia was formerly known as Nordeste de Tupi. Petrobras is the operator of BM-S-24 with an 80% stake. Petrogal Brazil, owned by Portugal's Galp Energia SGPS and China's Sinopec, holds the remaining 20% interest. The consortium is currently carrying out activities included in an evaluation plan approved by national hydrocarbons agency ANP.