Political Risk Latin America Blog @PolRiskLatam

Colombia’s Ecopetrol Announces New Oil Find

Posted in News and Articles, Political Risk by politicalrisklatam on December 2, 2010

by Latin American Herald Tribune, December 2nd, 2010.

Colombian state oil firm Ecopetrol announced Wednesday that it discovered crude at an exploratory well in the central province of Meta, company officials said.

The discovery was made near the town of Acacias, Ecopetrol said in a press release, adding that it was the “sixth finding with Ecopetrol participation since the beginning of the year and the third in the Eastern Llanos region.” The company said the Akacias-1 exploratory well is located within the CPO-9 block and is part of an exploration and production contract signed with the National Hydrocarbons Agency.

Ecopetrol operates the block and owns a 55 percent stake, while Canadian-owned Talisman Oil and Gas Ltd. holds the remaining 45 percent interest. Initial tests at Akacias-1 produced an average of 1,280 barrels of oil per day, according to Ecopetrol, which said drilling began on Aug. 31 and reached a depth of 11,780 feet. (continue reading… )


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