Batista companies extend test in Brazil offshore field

marinelink.com
Wednesday, March 05, 2014

Brazilian tycoon Eike Batista's bankrupt shipmaker and sister oil company are extending tests in the offshore Tubarão Azul field until March 7, according to a Wednesday securities filing.

OSX Brasil SA said its OSX-1 platform would continue tests in the field operated by Oleo e Gas Participações SA, the oil producer formerly known as OGX.

The failure to produce as much oil as expected at Tubarão Azul, Batista's first offshore field, led to the meltdown of his energy and mining group, resulting in Latin America's largest-ever bankruptcy protection filing.

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