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Carlos Bellot News

17 Oct 2012

OSX Receives New US$ 500 Million Capitalization

With new commitment for up to additional US$ 500 million capitalization until March 2014. OSX exercised the put option in the amount equivalent in Brazilian Reais to US$ 500 million, which has been approved unanimously by the independent members of the Board of Directors of the Company pursuant to the respective agreement dated 16 March 2010 among the Company and its controlling shareholders aiming to provide the Company with additional equity for the execution and implementation of its business plan, as recommended by the Company’s management. As a result of this exercise, capital increases will be implemented by OSX totaling US$ 500 million until 23 March 2013…

23 Aug 2011

FPSO OSX-1 Begins Journey Toward Brazil Production

FPSO OSX-1, the first floating production, storage and offloading vessel in OSX’s fleet, has concluded its conversion in Singapore and set sail for Brazil. The journey is estimated to take 40 to 50 days. The FPSO OSX-1 is commissioned to produce the first oil for itsclient OGX, which is expected to start oil production during the fourth quarter of 2011. Chartered by OGX for a period of 20 years at an average day rate of $263,000, FPSO OSX-1 will be employed in the Waimea accumulation, in the Campos Basin.

15 Aug 2011

Keppel to deliver the first FPSO for Brazil’s OSX

Keppel Shipyard Ltd (Keppel Shipyard) is on track to complete the modification and upgrading works on FPSO OSX-1, the first floating production storage and offloading (FPSO) unit for OSX Brasil S.A. (OSX). Chartered to OGX Petroleo e Gas Participacoes S.A. (OGX), FPSO OSX-1 will be deployed in the Waimea field, in Campos Basin, offshore Brazil. This project will deliver OGX's first oil, just four years after the company was founded. Production is expected to commence in the last quarter of this year. Lady Sponsor Cristina Pinto named the vessel today in the presence of Mr Joao Ziccardi Navajas, Minister Counsellor at the Embassy of Brazil in Singapore, and Mr Reinaldo Belotti, Production Director of OGX.