• OGX Maranhão – special purpose company divided between MPX (holding 33.3% of the capital) and OGX (66.7%) – holds a majority share in the concession of eight terrestrial exploratory blocks in the Parnaíba Basin (State of Maranhão). Seven blocks were acquired from Petra Energia S.A., which still detains a 30% share.
    The eighth block, PN-T-102, was acquired by OGX Maranhão from companies Imetame Energia S.A., DELP Engenharia Mecânica Ltda. and Orteng Equipamentos e Sistemas Ltda., which still hold shares amounting to 16.67%, 16.665% and 16.665%, respectively. OGX Maranhão detains a 50% share and is the block’s operator.
    Parnaíba Basin is located in the Northeastern Region of Brazil and encompasses an area of approximately 680,000 km², distributed throughout the states of Maranhão, Piauí, Tocantins and a small part in the states of Pará, Ceará and Bahia. It’s boundary to the North are the São Luís and Barreirinhas Basins, to the Northwest the Marajó Basin and to the South the São Francisco Basin. The maximum width of the basin’s sediment column is estimated to be of around 3,500 meters.
     
    The terrestrial blocks have prospective resources estimated in more than 11 trillion cubic feet (TCF) and are located in an area of 24,500 km², encompassing more than50 municipalities.
     
    Highly competitive gas reserves:
    • High permeability conventional gas, allowing for greater productivity.
    • Gas appropriate for thermoelectric consumption, with very low processing costs
    • Wells down to 1,000-2,000 meters of depth.
    • Privileged logistics: wells concentrated in clusters that are very close to the thermal power plant.
 
 The exploration campaign in this basin was started by OGX in September 2009.  Currently the company has two drilling rigs working in parallel and a the start up of a third one is scheduled for the month of  October. OGX is planning to have  15 wells drilled in the region by 2013. A major exploration budget of R$ 700 million was set for the exploration campaign.

In May  2011,  OGX declared the commerciality of the accumulations Califórnia and Fazenda São José that will be company first natural gas fields, named  Gavião Azul and Gavião Real, respectively. Production is planned to start in the second semester of  2012 and should reach  5.7 million m³/day of natural gas.

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MPX coal reserves in Seival Mine could supply the entire Rio Grande do Sul state electric power demand for at least 20 years