OGX's portfolio is composed of 33 exploratory blocks in some of the most attractive sedimentary basins in South America, like Campos and Santos basins. Besides the blocks with great production potential in areas that have already been explored and are well-known, OGX also operates in new frontiers in the Parnaíba Basin, in Maranhão, which up to that point was little known or explored.
Another feature of OGX's portfolio is the low cost of logistics and technology for exploration and production. Of its assets, 73% are located in shallow waters, 19% on land and 8% in deep waters. Of the total, 79% of concessions cover areas favorable to discovery of oil accumulations with easy commercialization, and even the gas discoveries are in privileged locations with a guaranteed market, providing fuel for partner MPX’s thermoelectric power stations.
Location of our exploratory blocks
The flagship of OGX's portfolio is a set of seven exploratory blocks located in the south of the Campos Basin, Brazil's largest oil province, with a consolidated production of about 1.7 million barrels per day – approximately 80% of the total extracted in Brazil.
The company also has strategically located assets in basins with proven reserves and production, such as Santos and Espírito Santo, on the Brazilian coast, and onshore blocks at Lower Magdalena Valley, in Colombia. New frontiers are due to be opened by OGX in offshore blocks in the Pará-Maranhão Basin and in the Cesar-Ranchería onshore basin in Colombia, close to the Maracaibo Basin, Venezuela's most prolific. The eight blocks in the Parnaíba Basin, in Maranhão, have significant potential for natural gas production.