Chevron Brazil officials say they have successfully plugged the well responsible for causing oil to seep through the ocean floor.

Announced Tuesday, the company said ongoing monitoring of the well indicates a significant decrease in the amount of oil observed coming from nearby seep lines on the ocean floor, read the company's latest statement.

In the near future, the oil company will be cementing the well shut.

The move comes after the Brazilian oil and natural gas authority this week concluded that pressure from the drilling operation caused the ocean floor to crack, allowing oil in the ground to leak out.

The company temporarily suspended its drilling operations as a precaution.

To date, roughly 650 barrels of oil have escaped the seeps. They have formed an oil sheen that is moving in a southeasterly direction - away from the country's coastline.

Crews are still working to clean the oil that has accumulated on the surface of the water, according to the statement.