OSX Brasil said it has acquired a floating production storage and offloading vessel from Singaporean marine firm Nexus Floating Production.

In a filing to the Sao Paulo Stock Exchange, an arm of EBX Brazil said it has bought the vessel.

According to reports, the vessel, OSX-1, cost the oil company $362m.

OSX is expected to charter the vessel to OGX, EBX’s oil exploration and production spin-off.

The company is also proposing to build two shipyards in Brazil to build floating production units and drilling units.