The announcement followed the release of results of an extended well test conducted by the OGX-26HP well, located in the Waimea complex on block BM-C-41, northeast of Rio de Janeiro.
A plan submitted to regulator ANP said the Campos basin oilfield had an estimated recoverable volume of 110 million barrels of oil from the field over its production phase.
OGX chief executive Paulo Mendonca said the company would now look to connect a second well and improve production by floating production and storage vessel OSX-1.
