Brazil: OGX Obtains Qualification of Operator A
- Business & Finance
OGX Petróleo e Gás Participações S.A., the Brazilian oil and gas company responsible for the largest private-sector exploratory campaign in Brazil, announced today that it has obtained from the National Petroleum, Natural Gas and Biofuels Agency – ANP, the qualification of operator A, therefore being able at this time to operate blocks located in deepwater, ultra-deepwater, shallow water and onshore, where already operates as operator B.
OGX Petróleo e Gás SA is focused on oil and natural gas exploration and production and is conducting the largest private sector exploratory campaign in Brazil.
OGX has a diversified, high-potential portfolio, comprised of 29 exploratory blocks in the Campos, Santos, Espírito Santo, Pará-Maranhão and Parnaíba Basins, in Brazil, and 4 exploratory blocks in Colombia, in Lower Magdalena Valley and in Cesar-Ranchería basins. The total extension area is of approximately 6,400 km² in sea and approximately 36,700 km² in land, with 24,500 km² in Brazil and 12,200 km² in Colombia.
OGX relies on an experienced management team and holds a solid cash position, with approximately US$2.9 billion in cash (as of June, 2012) to fund its E&P investments and new opportunities. In June 2008, the company went public raising R$6.7 billion, the largest amount ever raised in a Brazilian primary IPO at that moment.
OGX is a member of the EBX Group, an industrial group founded and under the leadership of Brazilian entrepreneur Eike F. Batista, who has a proven track record in developing new ventures in the natural resources and infrastructure sectors.
Press Release, October 24, 2012