Former Batista oil field nears abandonment

By
Tuesday, November 14, 2017

Petroserv's Atlantic Zephyr drilling rig is to begin in two weeks the first intervention works in the Tubarão Azul field, operated by Dommo Energia – formerly OGX and OGPar – off Brazil's southeastern coast.

The work is part of the well abandonment campaign in the area, which is being performed by Schlumberger, Dommo said in its Q3 financial results.

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The Tubarão Azul field was Dommo's first offshore producing field, coming on stream in February 2012 through the OSX-3 floating production, storage and offloading unit.

However, production at the field was halted in 2016 and, as the former oil and gas flagship of embattled Brazilian tycoon Eike Batista was not able to resume operations in the area, the company decided to deactivate the asset.

EXXON

In its latest financial results presentation, Dommo disclosed it has asked courts for more time to pay off a 53.7mn-real (US$16.3mn) debt with ExxonMobil.

The amount corresponds to the percentage of the minimum exploratory program of block POT-M-762, in the offshore Potiguar basin, that it failed to comply with.

The Brazilian company claims that the value charged by the US major is related to an obligation assumed before the beginning of its bankruptcy protection proceedings that are currently underway.