ONGC Videsh announces oil discovery in Llanos Basin, Colombia

ONGC Videsh announces oil discovery in Llanos Basin, Colombia
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Highlights

ONGC Videsh Limited (OVL), the wholly-owned subsidiary and overseas arm of Oil and Natural Gas Corporation Ltd.

ONGC Videsh Limited (OVL), the wholly-owned subsidiary and overseas arm of Oil and Natural Gas Corporation Ltd. (ONGC), on June 23, 2022, announced that it has made an oil discovery in Colombia.

The company in a statement said, "The company has discovered oil in the recently drilled well, Urraca-IX, in CPO5 block, Llanos Basin of Colombia."

Well, Urraca-1X was spudded on April 20, 2022, and drilled to a target depth (TD) of 10,956 ft., encountering 17 ft thick oil-bearing sands at a depth from 1,0201ft -10,218 ft. During initial testing with an Electrical Submersible Pump (ESP), fluid flowed @ approx. 600 bbl./day with around 40-50% W/C and oil of 16o API. Oil discovery in the Lower Mirador plays in this well and opens up new areas for further exploration in the northern part of the block.

ONGC Videsh has earlier discovered commercial oil in the Lower Sand pay in Mariposa and Indico fields in the block in 2017 and 2018 respectively, which are currently commercially producing @ 20,000 bbl oil per day.

Block CPO-5 was awarded to ONGC Videsh Limited in the 2008 bid round of Colombia. ONGC Videsh holds 70% participating interest (PI) in the block along with operatorship, the remaining 30% is held by partner Geopark. ONGC Videsh has a significant presence in the oil & gas sector in Colombia, with three other exploratory blocks in the country and joint ownership of the oil-producing company Mansarovar Energy Colombia Ltd (MECL).

Oil discovery in a new play in the block with the well Urraca-1X reiterates the technical and operational prowess of ONGC Videsh and adds one more feather in its cap toward the extensive Exploration and Drilling campaign in Colombia.

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