Regulatory News

The Brazilian Institute for the Environment (IBAMA) authorized entrepreneur Eike Batista’s oil company, OGX to begin drilling two exploration blocks for oil and gas in the Campos Basin, located of Rio de Janeiro's coast. In both areas, the company owns 70% of the business, while Maersk Oil owns the remaining 30%.

Altogether, OGX holds interests in seven blocks in the Campos Basin. One, the Waimea, has already registered oil production.

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