São Paulo – Brazilian company OGX has found traces of hydrocarbons in block BM-S-29, approximately 130 kilometres off the coast of the state of São Paulo.
The well 1-MRK-2A-SPS is located in shallow waters, roughly 100 metres deep. Drilling activities at the well began in August 16th this year.
OGX Petróleo e Gás Participações S.A is Brazil’s largest private offshore oil and gas exploration company, with operations covering some 7,000 square kilometres, plus approximately 21,500 square kilometres onshore. The block is part of a concession in which OGX holds a 65% share and company Maersk Oil owns 35%.
"The traces found at the most promising basin in Brazil represent an important step forward for OGX. The drilling of the well 1-MRK-2A-SPS is still underway and new data must be collected in order to determine the significance of the traces," explains Paulo Mendonça, general director of OGX.
The company also owns 29 exploratory blocks in the basins of Campos, Santos, Espírito Santo, Pará-Maranhão and Parnaíba.
OGX belongs to businessman Eike Batista and has a capital of US$ 4 billion for investment in exlopration, production and new businesses.
*Translated by Gabriel Pomerancblum
