OGX finds hydrocarbons in Brazil's Santos Basin

Jan 16, 2012 12:00 AM

OGX has identified the presence of hydrocarbons in the Albian and Aptian sections of well 1-OGX-63-SPS in the BM-S-57 block, in the shallow waters of the Santos Basin. OGX holds a 100 % working interest in this block.
"This discovery is important for its huge hydrocarbon column and net pay identified in the Albian section, as well as by the quality of the Aptian reservoir and its behaviour," commented Paulo Mendonça, General Executive Officer and Exploration Officer of OGX.

A hydrocarbon column of approximately 1,000 meters was encountered in Albian reservoirs with about 110 meters of net pay.
The drilling of the well, which is still in progress, already reached the Aptian section of the reservoir identifying hydrocarbons through a high gas presence that resulted in a kick, which is already controlled.

The OGX-63 well, known as Fortaleza, is still in progress and located in the BM-S-57 block and is situated approximately 102 km off the coast of the state of Rio de Janeiro at a water depth of approximately 155 meters.
The Ocean Quest (mid-water semi-submarine) initiated drilling activities on October 08, 2011.

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