OREANDA-NEWS. September 23, 2011. OGX, the Brazilian oil and gas company responsible for the largest private-sector exploratory campaign in Brazil, has begun installing equipment in preparation for the Extended Well Test ("EWT") in Waimea, on block BM-C-41 in the Campos Basin, following the granting of an Installation License related to the EWT and production development by IBAMA (the Brazilian Institute for Environment and Renewable Natural Resources). OGX has a 100% interest in this block.

"Upon receiving this license, we immediately began the subsea equipment and the FPSO OSX-1 mooring system installation in the Waimea accumulation, and have entered into the final stages towards production," commented Paulo Mendonca, General Executive and Exploration Officer of OGX.

The vessel being used for the installation of the subsea equipment is the Aker Wayfarer, which has the capacity to install the FPSO OSX-1 mooring system and also interconnect the flexible lines. To begin the mooring process, the piles will be driven by a pile-hammer and the buoy will be secured via chains and cables. With the mooring system in place, the process of connecting the flexible lines to the buoy will begin, after which it will be connected to the FPSO.

The Waimea accumulation, which is located in the shallow waters of the Campos Basin, was discovered through wildcat well OGX-3 on December 18, 2009. The EWT, which is expected to begin in an exceptionally short timeframe – approximately two years after the discovery was made – will be performed utilizing the existing OGX-26HP horizontal well.