OGX has concluded the drilling of the well 1-OGX-24-RJS, located in the BM-S-56 block, in the shallow waters of the Santos Basin. OGX holds a 100% working interest in this block.
The drilling of well OGX-24, also known as Itagi, reached a total depth of 4,750 meters, and encountered sandstone reservoirs in the Santonian section with indications of hydrocarbons considered to be noncommercial.
Although the existence of an active petrolific system was confirmed, hydrocarbons could not accumulate in this reservoir due to a lack of trap. Information obtained in the drilling of this well will be used to calibrate the geological model for the region.
The OGX-24 well is situated approximately 94 kilometers off the coast at a water depth of approximately 140 meters. The rig, Ocean Star, initiated drilling activities there on October 30, 2010.
