OREANDA-NEWS. OGX’s average oil and natural gas production for April 2013 reached 13.9 thousand barrels of oil equivalent per day (boepd). Of this amount, 1.8 thousand boepd corresponds to the offshore average production at Tubarao Azul Field, in the Campos Basin, and 12.1 thousand boepd (1.9 million m3 per day) to OGX’s share of the average production of natural gas at the onshore Gaviao Real Field, in the Parnaiba Basin. The total offshore production was 54,183 barrels of oil equivalent and the total onshore production was 123.4 million m3 of natural gas.

Offshore Production

Production at the Tubarao Azul Field was affected by the following factors:

(i) OGX-68HP and TBAZ-1HP: the wells did not produce in April due to operational issues in March that interrupted its production;

(ii) OGX-26HP: The well’s production stopped for 14 days due to periodic stoppages in order to prevent damages to the electrical submersible pump (ESP), which shown overheating as a result of an increase on the gas oil ratio (GOR) on the well.

OGX’s technical team is analyzing the reservoir behavior to define the next steps on the development of Tubarao Azul Field.

The repair of OGX-68HP well’s ESP commenced in mid-April and its completion is expected for mid-May. The work on the TBAZ-1HP well should begin after the operational issues at the OGX-68HP well have been resolved. Production at both wells will remain interrupted until the ESP overhauls are completed.

Considering the effective production days, the average offshore productivity per well was 3.4 thousand boepd in April.

Onshore Production

Total average production at the Gaviao Real Field was 4.1 million m3 per day (1.9 million m? net to OGX), with three turbines operating at the Thermo Power Plant I during the entire month. The fourth turbine started operating on April 5, after it was synchronized with the National System.