Ecopetrol and Talisman Energy have announced the discovery of hydrocarbons at an exploration well in eastern Colombia.
Initial tests of the exploratory well show an average production of 910 barrels of crude oil a day, according to a joint statement released Tuesday.
Drilling of the ‘La Esperanza’ well in the eastern state of Meta began on July 18, and reached a final depth on September 26. The companies are currently analyzing initial results, and seeking permission from the government to carry out more extensive testing at the site. On November 16, the companies received permission to drill two more wells in the area.
La Esperanza is the second joint discovery by the Colombian state-owned Ecopetrol and Canada’s Talisman Energy. In 2010, the two companies built the Akacias structure in Meta after initial explorations proved successful. The Akacias oilfield was pronounced economically viable in 2013, and the companies are waiting to receive an environmental license from the government before beginning operations.
The news comes at a times of high anxiety for Colombian oil exporters, as production has fallen off considerably in the past year. Earlier in Novermber, Colombia’s Finance Minister announced that the country would not meet expected projections of one million barrels per day.
In the first 10 months of the year, Colombia’s oil production dropped 2.8% compared to that of the same year before.
MORE: Colombia oil production down 2.8%; growing concerns over 2015 budget deficit
Sources
- Ecopetrol y Talisman anuncian nuevo hallazgo de hidrocarburos (Ecopetrol press release)