Ecopetrol, Colombia’s state oil and gas company, announced Monday an oil discovery in Colombia’s southwest Putumayo department.
The Tinkhana-1 well began drilling operations on November 17, 2010, reaching a depth of 6,812 feet. Initial testing of the well has produced a flow of 140 barrels of oil a day.
Ecopetrol’s CEO said to media “It is satisfying to have this first find of 2011 recorded in the Putumayo basin, an area of major hydrocarbon potential”.
He added that the existing production and transport infrastructure in the region means that production from the well can begin to move at a faster pace.
Ecopetrol announced last year its plans to invest $10.6 billion in 2011 to help it pursue a doubling of production over the coming decade.
The company will continue running tests on the Tinkhana-1 well in the weeks to come to determine its size and production potential.
