KNOC won the right to explore the CPE 7 field located in
Llanos, eastern Colombia, through a consortium it leads with a 60
percent stake that includes Argentina’s Pluspetrol.
Colombia has about 130 oil fields under production and the
area KNOC is exploring produces 340,000 barrels of heavy crude
oil per day, about 70 percent of Colombia’s total crude output.
Separately, SK Energy won the right to explore the CPE 5
field in Llanos, also via a consortium which is 71.4 percent
controled by Australian mining firm BHP, with SK
Energy holding the remaining stake.
The exploration period for both projects will last for three
years.
Meanwhile, Solana Resources Ltd., a Canadian
oil explorer operating in Colombia, said test results showed the
field at its Costayaco site may be larger than expected,
requiring an increase in its development plan.
The well’s two major reservoir sequences achieved
stabilized gross production rates of 3,042 barrels and 1,401
barrels of oil per day, Solana said today in a statement
distributed by PR Newswire.
Solana and Gran Tierra Energy Inc. operate the Colombian
field as a joint venture, it said. (Reuters / Bloomberg)
