OGX began its first Extended Well Test in January 2012, in Waimea, in the Campos Basin, taking the first step in a process of continuous growth in the oil production from its reserves.
The first production well, OGX-26, should produce between 15 and 20 thousand barrels of oil per day and, after the declaration of commerciality, two other production wells, also connected to FPSO OSX-1, should also start production in 2012. Other accumulations, like Waikiki, Fuji and Illimani, are also due to reach the production development stage in 2013.
In October 2011, the company received its first production unit, the FPSO OSX-1, and by 2013 it will receive another two FPSOs, OSX-2 and OSX-3. Estimates are that by 2015 production will reach 730 thousand barrels/day, which will make OGX the largest private producer in Brazil.
Taking into account the volume of discoveries made so far by OGX and the planned purchase of equipment already under way, the company’s production target for 2019 is 1.4 million barrels per day, equivalent to two thirds of Brazil’s present oil production. To reach this goal, the company will have 19 FPSOs, 24 fixed platforms for shallow waters (WHP) and a further five platforms for deep waters (TLWP) for its production activities.