OREANDA-NEWS. March 2, 2011. OGX Petroleo e Gas, the Brazilian oil and gas company responsible for the largest private sector exploratory campaign in Brazil, announced the presence of hydrocarbons in the Albian section of exploration well 1-MRK-5-RJS, which is located in the BM-C-37 block, in the shallow waters of the Campos Basin. OGX holds a 50% working interest in this block and Maersk Oil, the operator, holds the remaining 50%.

According to a preliminary evaluation conducted by operator Maersk Oil, up to 17 meters of potential net pay were encountered in carbonate reservoirs in the Albian section. The 1 -MRK-5-RJS exploration well, known as Carambola-B, is the second well drilled in the BM-C-37 block and the drilling of this prospect is still ongoing towards a planned final depth of 3,000 meters below sea level. Additional work is necessary in order to determine the productivity of this area.

The 1-MRK-5-RJS well is situated about 80 kilometers off the coast of the state of Rio de Janeiro at a water depth of approximately 130 meters. The rig, Blackford Dolphin, initiated drilling activities there on January 9, 2011.