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FPSO OSX-1 Starts OGX’s First Oil Production

02/01/2012

On January 31th 2012, at 18h39m50s, the FPSO OSX-1 successfully initiated the production of first oil for its anchor client OGX, the Brazilian EBX Group oil and gas company responsible for the largest private-sector exploratory campaign in Brazil. The FPSO OSX-1 is in charge of carrying out the Extended Well Test on the Waimea accumulation, in the Campos Basin, through well OGX-26HP, located 80km off the coast, at a water depth of 130 meters.

The FPSO OSX-1 is the first floating, production, storage and offloading unit to integrate the OSX fleet. OSX-1 was built in Korea and customized in Singapore, at Keppel’s shipyard. It is 271,75 meters long, and has the capacity to store up to 900 thousand barrels of oil. The FPSO OSX-1 has been leased to OGX for a period of 20 years, and is operated by OSX through its subsidiary OSX Serviços Operacionais Ltda.

During the coming weeks, OGX’s production team will test different flow rate levels, aiming at gradually reaching a stable production level of roughly 15 thousand barrels per day.

“Our FPSO OSX-1 has begun production of the first oil for our client OGX in extraordinary time, approximately two years after discovery. It is an important milestone in the history of the EBX Group. We are thankful for the professionalism and care of our team, in line with our commitment to operational safety, occupational health and sustainability. OSX is very proud to be part of this history and to contribute to transforming Brazil into one of the greatest oil producers in the world” stated OSX’s CEO, Luiz Eduardo Carneiro.