OGX redoubles Santos Basin find

Brazilian independent OGX has said analysis has confirmed hydrocarbon-bearing pre-salt microbiolite reservoirs in the shallow waters of its BM-S-57 Santos Basin block.

As Upstream reported two weeks ago, the 1-OGX-63-SPS well, also referred to as Fortaleza, hit hydrocarbons in the Albian section before continuing to deeper Aptian horizons, where a big gas kick implied another sweet section.

OGX now says the well, which has been drilled to a depth of 6135 metres, has discovered a column of around 150 metres in the Aptian section.

Chief executive Eike Batista said the enhanced find "reinforces the enormous potential of the Brazilian sedimentary basin".

The player, which owns 100% of the block located 102 kilometres off the coast of Rio de Janeiro state, says drilling has been suspended to allow for a change of rig due to the high pressures encountered.

OGX says additional tests may lead it to upgrade its volume estimates the block, which it is maintaining for now at 1.8 billion barrels of oil equivalent.

Upstream Online: 01 February 2012