OGX

Latest OGX News

• The Development Plan, which will be submitted to the ANP, estimates a total recoverable volume of 110 million barrels of oil from Tubarão Azul Field over the concession period's production phase.

• OGX has taken bold actions, and the results followed quickly, with the discovery of billions of barrels in Campos, Santos and Parnaíba; the production in Waimea (Campos Basin); and our first commercialization contracts now signed.
• During 2011, OGX intensified its exploratory campaign in the Campos Basin, drilling 31 wells, including 5 appraisal, 21 wildcat and 5 horizontal production wells.

• OGX today announced that it has confirmed the existence of pre-salt microbiolite reservoirs with hydrocarbons in the shallow waters of the Santos Basin.

• OGX has announced that on January 28 the opening procedure of FPSO OSX-1 first well, denominated OGX-26HP, has been initiated.

• A hydrocarbon column of approximately 1,000 meters was encountered in Albian reservoirs with about 110 meters of net pay.

• FPSO OSX-1, the first floating production, storage and offloading unit in OSX's fleet, arrived today in Rio de Janeiro
• Chartered for OGX for a period of 20 years, the destination of FPSO OSX-1 will be the Waimea accumulation, located in the Campos Basin, where the unit will start production of OGX's first oil

• OGX concludes drill-stem test performed in the Santonian section of well 1-OGX-11D-SPS, in the BM-S-59 block within the shallow waters of the Santos Basin
• The results of this test indicate a production potential of 1.0 million cubic meters of gas per day and 1,200 barrels per day of condensate in a vertical well, which could reach up to 5 million cubic meters of gas per day and 6,000 barrels of condensate
• Well OGX-11D, which is named Natal, is located in the BM-S-59 block and is situated approximately 84 kilometers off the coast of the state of Rio de Janeiro at a water depth of approximately 180 meters

• OGX acquires 50% stake in the onshore exploratory block, PN-T-102, in the Parnaíba Basin in the state of Maranhão
• This interest was acquired from the companies Imetame Energia S.A., Delp Engenharia Mecânica Ltda. and Orteng Equipamentos e Sistemas Ltda
• OGX Maranhão paid the Consortium an amount equivalent to the signature bonus and expenses previously incurred. In addition, OGX Maranhão has committed to exploration activities of this block.
• With this additional concession, OGX Maranhão now holds positions in 8 onshore exploratory blocks in the Parnaíba Basin with total area exceeding 24,500 km²

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