AziLat Ltd. entered a transaction with OGX Petróleo e Gás SA to acquire OGX’s full interest in two blocks offshore Brazil, the company said Oct. 18.
The blocks are in the Ceará Basin and the Potiguar Basin in the equatorial conjugate margin and are operated by ExxonMobil Exploração Brasil Ltda.
AziLat, through its local subsidiary AziBras Exploração de Petróleo e Gás Ltda. will assume the OGX working interest in the two licenses following the approval of the Agencia Nacional do Petroleo, Gas Natural e Biocombustiveis, or ANP.
Petroleum Geo Services ASA is currently shooting a 1,100 sq km 3-D seismic survey on Block CE-M-603, and a 1,000 sq km 3-D survey in Block POT-M-475 is scheduled for first-quarter 2016.
AziLat, backed by Seacrest Capital Group, operates in South America.
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