OGX Petróleo e Gás Participações S.A. (OGX) has concluded the drilling of well 1-OGX-23-RJS, located in the BM-S-58 block, in the shallow waters of the Santos Basin. OGX holds a 100% working interest in this block.

The drilling of well OGX-23, also known as Ilhéus, was designed to test reservoirs in adjacent structures to the discovery in the 1-OGX-19A well. The well encountered reservoirs with evidence of hydrocarbons, but they were considered to be non-commercial. The drilling of this well reached a total depth of 5,623 meters.

The OGX-23 well is situated approximately 107 kilometers off the coast at a water depth of approximately 152 meters. The rig, Ocean Quest, initiated drilling activities there on October 25, 2010.

Tags: OGX Petróleo e Gás Participações S.A.