OGX Maranhao, an entity formed by OGX (66.6%) and MPX Energia (33.3%) is the operator and holds a 70% stake in this block, while Petra Energia holds the remaining 30%.
OGX general executive officer Paulo Mendonca said that this discovery opens a new exploratory frontier in an onshore basin, the first in two decades and this exploratory campaign was initiated in October 2009, conducted by Brazilian companies.
Following drilling, the first 10m in the devonian section with significant gas shows, in the depth of 1.654m, OGX Maranhao has decided to conduct a Drill Stem Test.
With the seismic data recently acquired, twenty new prospects were already mapped, five of which located in the same trend of this discovery, indicating the great potential in part of the basin, where OGX Maranhao owns seven blocks, in a total of 21,000sqkm.
The drilling of well OGX-16, also known as the California prospect, is still in progress and is expected to continue to a maximum final depth of approximately 3,450m.
