OGPar announced regarded the agreement signed together with its subsidiary, OGX Petróleo e Gás S.A. – Em Recuperação Judicial, and OSX 1 Leasing B.V. (“OSX 1L”) and OSX Serviços Operacionais Ltda. – Em Recuperação Judicial, disclosed on February 3rd, 2014 as a Material Fact, that the testing period in the Tubarão Azul Field will proceed until April 4, 2014. 

According to OGPar, the company continues in the process of negotiating agreements and seeking consents that would allow the Vessel to continue producing, and still subject to certain precedent conditions, especially the signing of a new agreement establishing all the operational and financial conditions among all the parties involved.