Arab Today, arab today brazil\s biggest private oil company begins pumping oil
Last Updated : GMT 16:22:08
Arab Today, arab today
Arab Today, arab today

Brazil\'s biggest private oil company begins pumping oil

Arab Today, arab today

Arab Today, arab today Brazil\'s biggest private oil company begins pumping oil

Sao Paulo - Arabstoday

Brazil\'s biggest private oil company says it has begun pumping its first oil. OGX Petroleo e Gas Participacoes SA says in a statement it began producing the oil Tuesday at the OGX-26HP well in the Campos Basin\'s Waimea field off the coast of Rio de Janeiro. OGX is owned by billionaire Eike Batista, who is considered Brazil\'s richest man. The statement says production is expected to stabilize in a few weeks at about 15,000 barrels a day. Daily output is expected to increase to up 50,000 barrels by the end of the year. Sao Paulo - The Guardian

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