OGX July Production at 13.7 Thousand Boepd (Brazil)

OGX Petróleo e Gás Participações S.A. (“OGX”), announces that its average oil and natural gas production for July 2013 reached 13.7 thousand barrels of oil equivalent per day (boepd).

Of this amount, 0.9 thousand boepd corresponds to the offshore average production at Tubarão Azul Field, in the Campos Basin, and 12.8 thousand boepd (2.0 million m3 per day) to OGX’s share of the average production of natural gas at the onshore Gavião Real Field, in the Parnaíba Basin. Overall for July 2013, total offshore production was of 27,563 barrels of oil equivalent and total onshore production was of 134.8 million m3 of natural gas.

Offshore Production

Production at the Tubarão Azul Field was impacted by damages to the electrical submersible pumps (ESP). Both wells (OGX-26HP and OGX-68HP) produced for only 3 days during the month of July.

The OGX-26HP well´s ESP will be repaired again. These repairs are expected to be concluded by mid-September.

Considering the effective production days, the average offshore productivity per well was of 4.6 thousand boepd during the month of July.

Onshore Production
Total average production at the Gavião Real Field was of 4.3 million m3 per day (2.0 million m³ net to OGX), with four turbines operating at the Thermo Power Plant I throughout the month of July.

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August 9, 2013