RIO DE JANEIRO Jan 9 Óleo e Gás Participações
SA, Brazilian entrepreneur Eike Batista's oil company, said on
Thursday it paid off part of the debt related to the development
costs for two offshore oil fields.
The company, formerly known as OGX, paid the first
installment of a past-due debt worth 73 million reais ($30.5
million) related to the fields of Atlanta and Oliva in Brazil's
Santos basin, a company spokeswoman said.
Óleo e Gás filed for Latin America's largest-ever bankruptcy
protection petition on Oct. 30.
The remaining past-due debt installments will be paid off
"in the same way," the spokeswoman said in an email to Reuters.
The debt payment was first reported by newspaper Valor
Óleo e Gás could lose its 40 percent stake in the fields if
it fails to pay its share of development costs.
Valor reported the company also provided Brazil's oil
regulator ANP with documents showing it is in a financial
position to honor all contracts it won for the exploration of
Óleo e Gás said in a securities filing earlier this year it
will pay the debt in the two oil fields, using financial
resources obtained in an agreement with creditors in December.