| |
|
|
Batista's big plans
Brazil's largest independent exploration and production company, OGX is saying that it plans to produce 1.4 million barrels of oil per day by 2019. As part of this expansion, it estimates that it will need 19 floating production, storage and offloading units (FPSOs), in addition to 29 platforms, all at an estimated cost of $30bn.
Under the partnership with Batista's OSX, a startup shipbuilder and owner of offshore units, OGX will lease the required units from its sister company to avoid near- and medium-term capital costs.
OSX, currently a subsidiary of Batista's EBX group, has filed papers for an initial public offering (IPO) on the Sao Paulo Stock Exchange, as it gears up to build a $1bn shipyard in the southern Brazilian state of Santa Catarina and has proposed a second new yard in Rio de Janeiro state.
A preliminary prospectus for the offering does not say how much the company plans to raise, although reports have said that they are aiming for as much as $3bn.
The companies have already agreed to a 20 years charter for OSX¢s newly bought 133,000-dwt newbuilding FPSO, the “OSX 1” at a rate of $263,000-per-day. |
|
|
|
|
