Troubled Brazilian oil firm OGX has been dealt another blow after it emerged the company had no output from its Tubarão Azul field for the second month running.
The cash-strapped Eike Batista-owned company saw no production from its main onshore field because of damage to the electrical submersible pumps.
OGX has previously warned it will shut the field next year, significantly ahead of schedule, because of poor production rates. It had been producing nearly 10,000 barrels of oil per day before it was shut in.
Production from the company’s Gavião Real gas field, in which it has a 67% stake, reached 13,200 boed during September.
The new saw OGX shares rise slightly, to 0.22 reals, on the Brazilian stock exchange, but fears over the company’s future continue to mount.
Earlier this month it deferred payment on some of its existing debts, and is in talks with investors over how it can honour more than $3billion worth of outstanding bonds.
The company’s fortunes have waned after the collapse of Batista’s business empire, with fears OGX could file for bankruptcy this month.
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