OGX Discovers Oil in Brazil’s Southern Campos Basin

20 December 2009 (Last Updated December 20th, 2009 18:30)

OGX Petroleo e Gas Participacoes has discovered oil in Brazil's Southern Campos basin, where the country produces a major portion of oil. Traces of hydrocarbons were discovered in the 1-OGX-3-RJS well after the company unearthed a 50m column of hydrocarbons with 15m net pay from a well

OGX Petroleo e Gas Participacoes has discovered oil in Brazil's Southern Campos basin, where the country produces a major portion of oil.

Traces of hydrocarbons were discovered in the 1-OGX-3-RJS well after the company unearthed a 50m column of hydrocarbons with 15m net pay from a well in the same block.

OGX is 100% owner of the exploration and production concession for the BM-C-41 block.

In recent months, OGX, which is part of the EBX energy and infrastructure conglomerate, has made several oil discoveries.

Brazil is currently aspiring to become a major global oil producer following the 2007 discovery of a large amount of crude reserves in the subsalt Tupi basin