OGX Petroleo e Gas is focused on oil and natural gas exploration and production and is conducting the largest private sector exploratory campaign in Brazil. OGX has a diversified, high-potential portfolio, comprised of 29 exploratory blocks ...
OGX Petroleo e Gas is focused on oil and natural gas exploration and production and is conducting the largest private sector exploratory campaign in Brazil. OGX has a diversified, high-potential portfolio, comprised of 29 exploratory blocks in the Campos, Santos, Espirito Santo, Para-Maranhao and Parnaiba basins, in Brazil, and 5 exploratory blocks in Colombia, in Middle Magdalena Valley, in Lower Magdalena Valley and in Cesar-Rancheria basins. The total extension area is of approximately 7,000 km in sea and approximately 34,000 km in land, with 21,500 km in Brazil and 12,500 km in Colombia.
OGX relies on an experienced management team and holds a solid cash position, with approximately US$2.5 billion to fund its E&P investments and new opportunities.
In June 2008, the company went public raising R$6.7 billion, the largest amount ever raised in a Brazilian primary IPO at the moment.
Since 2007, when the company was formed, it has invested more than R$ 5.3 billion in E&P in Brazil. This amount includes the R$ 1.5 billion paid as subscription bonus for the ANP (National Agency for Oil, Natural Gas and Bio-fuels) auction held in 2007 and some R$ 3.8 billion for the exploratory campaign begun in August 2009.
OGX is a member of the EBX Group, an industrial group founded and under the leadership of Brazilian entrepreneur Eike F. Batista, who has a proven track record in developing new ventures in the natural resources and infrastructure sectors.