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GTU Plant View

The OSX Services (O&M costs), however, showed a slight increase in 2013 due to rental expenses related to the Centrifugal Submersible Pump (CSP) used on the TBAZ-1HP well.

Tubarão Martelo Field Development

Following the declaration of commerciality of the field and OGX’s submission of a Development Plan, the ANP granted the Company authorization to begin drilling the production wells in this field. OGX already drilled and made the lower completion of six horizontal production wells (TBMT-2HP, TBMT-4HP, TBMT-6HP, OGX-44HP, TBMT-8H and TBMT-10H). FPSO OSX-3 is scheduled to arrive by 3Q13 and its first production well is expected to come on-stream by 4Q13.

PARNAÍBA BASIN

  • Revenue generation commenced in January 2013, starting with gas dispatch for the synchronization of the first Parnaíba I Thermo Power Plant (TPP) turbine
  • Achieved first gas production at the end of November 2012, with the commissioning of the Gas Treatment Unit (GTU)
  • Average net gas production of 3.2 kboepd and 5.5 kboepd in January and February, respectively
  • Received all necessary licenses to begin natural gas production
  • Concluded the drilling and completion of all 16 production wells planned for the project
  • Secured R$600 million bridge loan through its subsidiary OGX Maranhão for the development of the Gavião Real and Gavião Azul fields in January, 2012

Gavião Real and Gavião Azul Field Development

In 2012, we had a number of significant achievements in the Parnaíba Basin. OGX began natural gas production in the Gavião Real Field during the commissioning of the GTU in November 2012, hence, becoming the first company to develop a gas production project in this basin. We also started gas dispatch for the synchronization of the first Parnaíba I TPP turbine in January 2013, marking the integration of natural gas production with power generation and initiating the project’s revenue generation.

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