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OGX expects Tubarao Martelo field Crude oil  production in Fourth quarter 2013

RIO DE JANEIRO -- OGX expects the Tubarao Martelo field to start producing crude oil in the fourth quarter of 2013.

In a presentation for investors, OGX said the company was completing drilling operations on three production wells at the field. The OSX-3 FPSO will arrive at the field in the third quarter, OGX said. Tubarao Martelo will be OGX' s second producing oil field.

OGX' s crude oil output from its first oil field, known as Tubarao Azul, has fallen short of the company' s initial forecasts. The field produced an average 10,100 boed in November from two production wells, much less than the 40,000 bbl target the company had expected to reach by year end 2012.

Dow Jones Newswires

12/11/2012

 

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