ONGC Videsh announces new oil discovery in Colombia

ONGC Videsh Limited (OVL), the subsidiary of state-run oil company ONGC which is responsible for prospecting oil in foreign lands, has announced on Thursday that it has made an oil discovery in the recently drilled well, Urraca-IX, in CPO5 block, Llanos Basin, Colombia. The firm explained that Urraca-1X was spudded on April 20, 2022 and drilled to a target depth (TD) of 10956 ft., leading to the discovery of 17 ft thick oil-bearing sands at a depth from 10201ft -10218 ft.

It added that during initial testing with Electrical Submersible Pump (ESP), fluid flowed at approximately 600 bbl./day with around 40-50 per cent W/C and oil of 16-degree API. "Oil discovery in the Lower Mirador play in this well opens up new areas for further exploration in the northern part of the block," noted the firm in an official statement. 

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 per cent participating interest (PI) in the block along with operatorship, remaining 30 per cent is held by partner Geopark. 

ONGC Videsh has a significant presence in oil and 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 towards the extensive Exploration and Drilling campaign in Colombia," noted the firm. 

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