The Brazilian government Thursday approved US oil giant ExxonMobil's bid to purchase a 35-percent stake in an offshore oil well licensed to Brazil's financially troubled OGX, local media reported.

The well lies within the POT-M-475 maritime block in the Potiguar basin off the coast of Brazil's northeastern state of Rio Grande do Norte. The block was acquired by OGX at an auction in May.

Meanwhile, a court in Rio de Janeiro has accepted OGX's bankruptcy protection request on Thursday.

OGX, the flagship company of the EBX Group owned by embattled Brazilian tycoon Eike Batista, filed for bankruptcy on Oct. 30, after it failed to rearrange 11.2 billion reais (4.85 billion US dollars) of debt.

Earlier, OSX, EBX's shipbuilding arm, also filed for bankruptcy protection.