OREANDA-NEWS. January 20, 2012. OGX, the Brazilian oil and gas company responsible for the largest private-sector exploratory campaign in Brazil, identified the presence of hydrocarbons in the Albian and Aptian sections of well 1-OGX-63-SPS, in the BM-S-57 block, in shallow waters of the Santos Basin. OGX holds a 100% working interest in this block.

“This discovery is important for the large hydrocarbon column and net pay identified in the Albian section, as well as the quality of the Aptian reservoir and its behavior,” commented Paulo Mendonca, General Executive and Exploration Officer of OGX.

A hydrocarbon column of approximately 1,000 meters was encountered in Albian reservoirs with about 110 meters of net pay. The drilling of the well, which is still in progress, already reached the Aptian section of the reservoir identifying hydrocarbons through a high gas presence that resulted in a kick, which is being controlled.

The OGX-63 well, known as Fortaleza, is located in the BM-S-57 block and is situated approximately 102 kilometers off the coast of the state of Rio de Janeiro at a water depth of approximately 155 meters. The Ocean Quest rig initiated drilling activities on October 8, 2011.