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Brazil independent gears up for exploration

02/23/2009
OGX Petroleo e Gas Participacoes SA, Brazil’s largest independent company in terms of offshore exploration acreage, plans to drill or participate in 51 wells the next 4 years in Brazilian land and offshore basins.The company, which holds 1.7 million acres of offshore rights on 22 blocks in four basins, has chartered four semisubmersibles. OGX is capitalized at $8.5 billion. It plans to start drilling with operator Maersk Oil in the Santos basin. Two wells in the Campos basin will follow in September. Another Santos well should spud in November, and two more Campos wells will follow around the end of 2009.OGX completed 3D seismic surveys in the Campos and Para-Maranhao basins in Dece...
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