An oil column of approximately 130mt with around 30mt of net pay was encountered in carbonate reservoirs. The drilling of OGX-5 is still in progress and is expected to reach a final depth of approximately 4,300mt.

Paulo Mendonca, general executive officer of OGX, said: “These initial results from well OGX-5 are very encouraging, as they confirm that the high-quality carbonate reservoirs detected in wells OGX-2 and OGX-3 are also present in the southern reaches of our blocks.”

The OGX-5 well is located in the BM-C-43 block and is situated approximately 79km off the coast of the state of Rio de Janeiro at a water depth of approximately 150mt. The rig ocean ambassador, provided by Diamond Offshore, initiated the drilling activities on December 26, 2009.