State-run petroleum company Ecopetrol announced the results of testing from an oil well in the south of Colombia with initial findings showing production levels to average 92 barrels of oil a day, the magazine Dinero reports.
The 7,371 ft Nunda-1 well in the Tello municipality of the department of Huila, was first drilled on January 27, 2011. Initial tests had a flow of 318 barrels of fluid a day, 71% of which was water, corresponding to an average of 92 barrels of petroleum a day.
The well is part of the Cuisinde Exploration and Exploitation Agreement signed between Ecopetrol and the National Hydrocarbons Agency (ANH) in 2006. Ecopetrol has 100% participation in the project.
In the coming weeks Ecopetrol will begin the phase of evaluating the discovery which involves extensive testing with the aim of determining the full production potential and the volume of recoverable hydrocarbons.
Ecopetrol President Javier Gutierrez said in March that his company is on track to produce 1.45 million barrels of oil a day by 2013.