Petrobras announces new oil discovery in Colombia
Thursday, Mar 11, 2010
Petrobras announces an oil discovery in the Balay exploration block, in Colombia, operated by its subsidiary Petrobras Colombia Limited which holds a 45% working interest. The discovery was made through the drilling of the Balay-1 wild cat well, located onshore, in the Llanos Basin, within the province of Casanare.
The drill reached a depth of 4,652 meters. Well testing confirmed the presence of oil, of around 28 API, with an initial flow rate of 1,314 barrels of oil per day. Future tests will take place to evaluate the potentiality of the field.
The project is being developed in partnership with Cepcolsa (30%), Sorgenia E&P Colombia B.V. (10%) and Petroamerica Oil Corp (15%).
Source: Petrobras
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