RIO DE JANEIRO - OGX Petroleo e Gas Participacoes SA (OGXP3.BR, OGXPY), the petroleum company owned by Brazilian billionaire Eike Batista, will start producing crude oil in mid-2011 at a rate of about 20,000 barrels per day, Batista said Thursday.
Projected output will grow to 730,000 barrels a day in 2015 and subsequently to 1.4 million, Batista told reporters at an event in Itaguai in Rio de Janeiro state.
OGX holds oil prospects in Brazil's Campos, Santos and Maranhao basins.
Various large international oil groups including Chinese companies have approached OGX about the possibility of setting up partnerships for oil drilling, Batista said.
"The Chinese are interested in investing in the offshore subsalt oil area in Brazil," Batista said. "They've already taken a look at it."
2010-07-09
Brazil's OGX: Submits Winning Bids For 5 Oil & Gas Blocks In Colombia
Brazil's OGX Petroleo e Gas Participacoes SA (OGXP3.BR) said Wednesday it has submitted winning bids for five oil and gas exploration blocks in Colombia.
The formal awarding of the concessions by Colombia's National Agency of Hydrocarbons is expected to occur in the coming days, the company said in a press release.
Through its subsidiary OGX Petroleo e Gas Ltda, it won five blocks covering a combined 12,580.7 square kilometers in three onshore basins, comprising blocks CR-2, CR-3 and CR-4 in Cesar-Rancheria, block VIM-5 in the Lower Magdalena Valley and block VMM-26 in the Middle Magdalena Valley, it said.
OGX said it has committed to a total investment of approximately US$125 million over the first three years for the initial exploratory period, which includes the acquisition of seismic data and the drilling of wells.
The company's portfolio has increased to 34 exploratory blocks, of which 12 are onshore and 22 offshore, totaling
The formal awarding of the concessions by Colombia's National Agency of Hydrocarbons is expected to occur in the coming days, the company said in a press release.
Through its subsidiary OGX Petroleo e Gas Ltda, it won five blocks covering a combined 12,580.7 square kilometers in three onshore basins, comprising blocks CR-2, CR-3 and CR-4 in Cesar-Rancheria, block VIM-5 in the Lower Magdalena Valley and block VMM-26 in the Middle Magdalena Valley, it said.
OGX said it has committed to a total investment of approximately US$125 million over the first three years for the initial exploratory period, which includes the acquisition of seismic data and the drilling of wells.
The company's portfolio has increased to 34 exploratory blocks, of which 12 are onshore and 22 offshore, totaling
2010-07-03
Petrobras creates the South Exploration and Production Operations Unit
Petrobras' Executive Board approved the proposal for creation of the South Exploration and Production Operations Unit (UO-SUL), headquartered in Itajaí, state of Santa Catarina. The UO-SUL was created on account of the increased volume of activities at the Santos Basin Exploration and Production Operations Unit (UO-BS), aiming to improve the distribution of responsibility for the management of exploration and production operations for the Santos Basin, which ranges from Cabo Frio (state of Rio de Janeiro) to Florianópolis (state of Santa Catarina).
The UO-SUL will be in command of the production of the Tiro and Sídon areas, which are still in the extended well test phase and are currently producing about 17,000 barrels per day of light oil, and of the development of production at the Cavalo Marinho, Caravela, Estrela do Mar, and Tubarão offshore fields.
Onshore, in the Paraná Basin, the UO-SUL will be responsible for developing production at the Barra Bonita field. A definitive production system for Tiro and Sídon, capable of producing 80,000 barrels per day, is currently in the final contracting phase and is slated to go on stream in 2012.
Exploratory activities, including blocks located in the Pelotas Basin, where results are expected to allow for production continuity and growth in the area, are also being developed under the UO-SUL operations scope.
The creation of the UO-SUL will also afford the UO-BS greater guidance for projects and for production at the Santos Basin's Uruguá-Tambaú, Mexilhão, Merluza and Centro (pre-salt) poles, operations for which will continue being coordinated from Santos, São Paulo.
The UO-SUL will be in command of the production of the Tiro and Sídon areas, which are still in the extended well test phase and are currently producing about 17,000 barrels per day of light oil, and of the development of production at the Cavalo Marinho, Caravela, Estrela do Mar, and Tubarão offshore fields.
Onshore, in the Paraná Basin, the UO-SUL will be responsible for developing production at the Barra Bonita field. A definitive production system for Tiro and Sídon, capable of producing 80,000 barrels per day, is currently in the final contracting phase and is slated to go on stream in 2012.
Exploratory activities, including blocks located in the Pelotas Basin, where results are expected to allow for production continuity and growth in the area, are also being developed under the UO-SUL operations scope.
The creation of the UO-SUL will also afford the UO-BS greater guidance for projects and for production at the Santos Basin's Uruguá-Tambaú, Mexilhão, Merluza and Centro (pre-salt) poles, operations for which will continue being coordinated from Santos, São Paulo.
2010-07-02
Brazil's OGX Set To Begin Oil Production In 2011
RIO DE JANEIRO -(Dow Jones)- OGX Petroleo e Gas Participacoes SA (OGXP3.BR, OGXPY), the petroleum company owned by Brazilian billionaire Eike Batista, will start producing crude oil in mid-2011 at a rate of about 20,000 barrels per day, Batista said Thursday.
Projected output will grow to 730,000 barrels a day in 2015 and subsequently to 1.4 million, Batista told reporters at an event in Itaguai in Rio de Janeiro state.
OGX holds oil prospects in Brazil's Campos, Santos and Maranhao basins.
Various large international oil groups including Chinese companies have approached OGX about the possibility of setting up partnerships for oil drilling, Batista said.
"The Chinese are interested in investing in the offshore subsalt oil area in Brazil," Batista said. "They've already taken a look at it."
Projected output will grow to 730,000 barrels a day in 2015 and subsequently to 1.4 million, Batista told reporters at an event in Itaguai in Rio de Janeiro state.
OGX holds oil prospects in Brazil's Campos, Santos and Maranhao basins.
Various large international oil groups including Chinese companies have approached OGX about the possibility of setting up partnerships for oil drilling, Batista said.
"The Chinese are interested in investing in the offshore subsalt oil area in Brazil," Batista said. "They've already taken a look at it."
2010-07-01
Total Acquires Interest in Santos Basin
06/30/2010 15:33
Total announces the acquisition of a 20% interest from Shell in the BM-S-54 license in the Santos Basin. Shell holds the remaining 80% and keeps the operatorship. This acquisition is subject to approval from the Brazilian authorities.
The offshore block, located about 200 kilometers south of Rio de Janeiro, covers an area of 700 square kilometers in water depth of approximately 2,000 meters.
This acquisition is part of Total's strategy to increase its presence in exploration and production activities in Brazil. "This stake in a block close to the very prolific block BM-S-11, where the Tupi, Iara and Iracema oil fields were discovered, will enable Total to participate in the promising exploration of the pre-salt area of the Santos Basin," stated Marc Blaizot, Senior vice President, Geosciences at Total Exploration & Production.
Exploration drilling is planned for later this year, subject to approval by the National Agency of Petroleum (ANP) and The Brazilian Institute of Environment and Renewable Natural Resources (IBAMA).
Total announces the acquisition of a 20% interest from Shell in the BM-S-54 license in the Santos Basin. Shell holds the remaining 80% and keeps the operatorship. This acquisition is subject to approval from the Brazilian authorities.
The offshore block, located about 200 kilometers south of Rio de Janeiro, covers an area of 700 square kilometers in water depth of approximately 2,000 meters.
This acquisition is part of Total's strategy to increase its presence in exploration and production activities in Brazil. "This stake in a block close to the very prolific block BM-S-11, where the Tupi, Iara and Iracema oil fields were discovered, will enable Total to participate in the promising exploration of the pre-salt area of the Santos Basin," stated Marc Blaizot, Senior vice President, Geosciences at Total Exploration & Production.
Exploration drilling is planned for later this year, subject to approval by the National Agency of Petroleum (ANP) and The Brazilian Institute of Environment and Renewable Natural Resources (IBAMA).
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