Third Well Starts to Produce in the Tubarao Azul Field

Source: www.gulfoilandgas.com 1/4/2013, Location: South America

OGX has connected and started its third production well in the Tubarao Azul field, TBAZ-1HP, situated in the Campos Basin, on December 31, 2012, which was under cleaning and adjusting process and initiated the effective oil production.

Luiz Carneiro, Chief Executive Officer of OGX says: "We are thrilled that production has started at our third well in the Tubar?o Azul Field, which will contribute to increasing OGXs current production levels".

Prior to the beginning of production of TBAZ-1HP well, the FPSO OSX-1 was producing at an average of 10,100 barrels of oil equivalent per day, connected to two production wells, OGX-26HP and OGX-68HP. The TBAZ-1HP well has a horizontal section of 1,200 meters and is located approximately 3 kilometers away from the first two production wells.


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