Feb. 1 (Bloomberg) -- QGEP Participacoes SA, Brazil’s third-largest oil company by market value, said its partner Petroleo Brasileiro SA found “inconclusive” signs of hydrocarbons at the Ilha do Macuco well in the BM-S-12 exploration block.

Petrobras, the operator of Macuco, will continue drilling to an additional two prospects deeper under the seabed, QGEP said in a filing to the stock exchange.

To contact the editor responsible for this story: Peter Millard at pmillard1@bloomberg.net