Indian Co. Finds More Oil in Colombia

India's ONGC Videsh Limited has recorded its second oil discovery in Colombia, at onshore block CPO-5 located in the oil-rich Llanos Basin, company officials said Monday.
OVL, the overseas arm of India's state-run explorer ONGC, is the operator of the onshore block with a 70% stake, while its partner Petrodorado South America S.A. Sucursal holds the remaining stake.
The Indico-1 well in the CPO-5 onshore block was found to be oil bearing and flowed at a self-flow rate of around 4,000 barrel per day during the test drilling, S&P Global Platts reported.
The well was drilled on November 7, 2018, and the drilling activities were completed on December 15.
Currently, the well is under short-term testing, with a study for further evaluation, the company said in a statement over the weekend.
In 2017, OVL discovered oil in the Mariposa-1 well, located 6.5 kms from Indico-1. In Colombia, OVL has participatory interests in six exploratory blocks.
Encouraged by the second oil discovery in the Latin American nation, OVL now plans to drill more exploratory wells.