OREANDA-NEWS. OGX, the Brazilian oil and gas company responsible for the largest private-sector exploratory campaign in Brazil, announces that it has acquired a working interest in 7 deep-water and 2 shallow-water blocks situated in the Equatorial Margin and 4 onshore blocks situated in the Parnaiba Basin during the 11th Exploration License auction round organized by Brazil’s National Petroleum, Natural Gas and Biofuels Agency (ANP).

Luiz Carneiro, CEO of OGX, commented:

“OGX is very pleased with the outcome of the 11th Bid Round organized by ANP. The offshore blocks are located within the Equatorial Margin, in the North of Brazil, an underexplored and highly promising area as demonstrated by recent discoveries in the surrounding areas. The onshore blocks are located in the Parnaiba Basin, where we have recently achieved significant results in both the exploration and production fronts.

The partnership with ExxonMobil and Total, two major international oil and gas players with significant expertise and resources, with a strong track record of success in the West Africa and the Atlantic Margin, underscore the high potential of the blocks, as well as our ability to identify and develop future growth opportunities. We are also very satisfied to have once more an opportunity to work with Queiroz Galvao Exploracao e Producao, an important and reputable player in the Brazilian Oil and Gas market. This is clearly an exciting time for Brazil’s oil and gas industry and for OGX, and we are thrilled to be a part of it.”