OGX Strikes Oil at Cozumel Prospect Offshore Brazil

Brazil’s independent oil and gas exploration company, OGX, has discovered oil at its Cozumel prospect offshore Brazil, Reuters has reported, citing an unnamed executive.

Cozumel is located in the BM-C-37 in the Campos Basin. The company, owned by Brazilian billionaire Eike Batista, did not immediately respond to an e-mail seeking comment.

In its 3Q report published yesterday, OGX said that the prospect could hold a Total Estimated Recoverable Volume between 209 and 270 mmboe.

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Offshore Energy Today Staff, November 9, 2012