South America

OGpar announces the return of certain areas to ANP

OGpar
17/02/2014 19:31
OGpar announces the return of certain areas to ANP Imagem: OGX Visualizações: 273 (0) (0) (0) (0)

 

Óleo e Gás Participações (OG Par) announced last friday  the devolution to ANP of the Itacoatiara, Viedma, Tulum and Vesúvio complexes, located in the Campos Basin, and Natal and Belém complexes, located in the Santos Basin, after the rejection of request for extension of deadlines of the Discovery Assessment Plans (DAPs) by ANP.
 
The Company also informs the decision of returning to ANP the complex of Curitiba, located in the Santos Basin, after conducting formation tests that indicated an index of reduced productivity due to low permeability of the reservoir rocks.
 
Additionally, OGpar announces the Tubarão Tigre, Tubarão Areia and Tubarão Gato Fields return, once no feasible solutions for technical-economic development of these fields were found, despite the efforts undertaken. 
 
The return of these areas will not affect the Company's business plan, once the economic value of these projects was not considered in any of the Company’s projections, which were presented in the negotiations with creditors or in the Reorganization Plan.

Óleo e Gás Participações (OG Par) announced last friday  the devolution to ANP of the Itacoatiara, Viedma, Tulum and Vesúvio complexes, located in the Campos Basin, and Natal and Belém complexes, located in the Santos Basin, after the rejection of request for extension of deadlines of the Discovery Assessment Plans (DAPs) by ANP. 


The Company also informs the decision of returning to ANP the complex of Curitiba, located in the Santos Basin, after conducting formation tests that indicated an index of reduced productivity due to low permeability of the reservoir rocks.

 

Additionally, OGpar announces the Tubarão Tigre, Tubarão Areia and Tubarão Gato Fields return, once no feasible solutions for technical-economic development of these fields were found, despite the efforts undertaken. The return of these areas will not affect the Company's business plan, once the economic value of these projects was not considered in any of the Company’s projections, which were presented in the negotiations with creditors or in the Reorganization Plan.

 

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