Bankrupt Brazil Firm to Start Offshore Production

Posted by George Backwell
Tuesday, May 06, 2014
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Oleo e Gas Participações SA, the bankrupt oil company controlled by Brazilian tycoon Eike Batista, said on Monday that it expects to start production at two additional wells in the Tubarão Martelo offshore field within 90 days.

The wells would join two others in production, bringing the company's total output to 16,000 barrels per day on average, Oleo e Gas said in a securities filing.

Oleo e Gas was formerly known as OGX Petroleo e Gas Participações SA.

 

 

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