OGX Petroleo e Gas Participacoes SA Given 15 days by ANP to pay for backwork or could get kicked out of concession
- Oleo e Gas Participacoes SA--formerly known as OGX Petroleo e Gas Participacoes SA--owes 73 million Brazilian reais ($31 million) for its 40% share of work done at the BS-4 offshore exploration block, which includes the Atlanta and Oliva oil fields, QGEP said. QGEP operates the block with a 30% share, while closely held Barra Energia retains the remaining 30%.
- In a regulatory filing, QGEP said that it had received notice from Brazil's National Petroleum Agency, or ANP, that Oleo e Gas had been ordered to prove that the company had complied with its obligations under the concession contract. Oleo e Gas faces having its rights to the concession revoked if it fails to meet its obligations, according to the filing.