Energy company Pacific Rubiales announced the discovery of a large cache of gas in northern Colombia, in a press release Wednesday.
The announcement comes a month after drilling was completed on an exploratory well in the Guama Block of the Lower Magdalena basin, in Caribbean coastal department of Magdalena.
Pacific Rubiales CEO Ronald Pantin said the discovery, “demonstrates the potential of both the Guama block and Lower Magdalena basin where the company has a large exploration acreage position and is looking to increase its gas reserves.”
It is the second discovery made in the region by the Canadian company, after a successful exploration in 2010.
Last month, the company announced plans to spend $1.2 billion in Colombia in 2012.