OGX Petróleo e Gás Participações S.A. (OGX) has presented to the National Petroleum, Natural Gas and Biofuels Agency (ANP) a Declaration of Commerciality of a portion of the Waimea Complex, for which the proposed new designation is Tubarão Azul Field, in block BM-C-41, in the shallow waters of the Campos Basin. OGX holds a 100 percent interest in these blocks.

This declaration of commerciality presented to the ANP, of a portion of the Waimea Complex (1st production module) occurred after assessing the results gathered so far of the Extended Well Test (EWT), conducted through the OGX-26HP well, which has been confirming excellent permoporosity reservoir characteristics and leading to a better specification and elaboration of the Development Plan (DP) of this area. 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.

Tags: OGX Petróleo e Gás Participações S.A.