ONGC Videsh announces new oil discovery in Llanos Basin, Colombia
New Delhi: ONGC Videsh Ltd, the overseas investment arm of state-owned Oil and Natural Gas Corporation (ONGC), has made an oil discovery in a block in Colombia, the company said on Thursday.
The discovery was made in the recently drilled well, Urraca-1X, in CPO-5 block, Llanos Basin, Colombia, it said in a statement.
The well Urraca-1X was spudded on April 20, 2022, and drilled to a target depth of 10,956 feet, encountering 17 feet thick oil-bearing
The well flowed 600 barrels per day of oil during testing.
"Oil discovery in the Lower Mirador play in this well opens up new areas for further exploration in the northern part of the block," it said.
ONGC Videsh Ltd (OVL) had earlier discovered commercial oil in the Lower Sand pay in Mariposa and Indico fields in the block in 2017 and 2018, respectively, which are currently commercially producing at the rate of 20,000 barrels of oil per day.
Block CPO-5 was awarded to OVL in the 2008 bid round of Colombia. The firm holds 70 per cent participating interest in the block along with operatorship, while the remaining 30 per cent is held by
OVL has a significant presence in the oil and gas sector in Colombia, with three other exploratory blocks in the country and joint ownership of the oil-producing company Mansarovar Energy Colombia Ltd (MECL).
"Oil discovery in a new play in the block with the well Urraca-1X reiterates the technical and operational prowess of ONGC Videsh and adds one more feather in its cap towards the extensive
Exploration and Drilling campaign in Colombia," the statement added.
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