OGpar pins hopes on Tubarao Martelo field in 2014

摘要

Brasilia—Beleaguered Brazilian oil and gas firm Oleo e Gas Participacoes (OGPar) said Monday that it expected revenue from its Tubarao Martelo offshore oil field to reach Reais 1.036 billion ($460 million) in 2014. The field averaged oil output of 11,000 b/d during the first quarter of 2014, producing a total of 967,000 barrels of oil during that period, OGPar said. In a presentation to investors on its performance during the first quarter of 2014, the company, formerly known as OGX, also said that the offshore Tubarao Azul field, where testing resumed in February, produced an average of 4,200 b/d in Q1 2014, with total production of 246,000 barrels of oil in that period.