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Indian Co. Finds More Oil in Colombia

Indian Co. Finds More Oil in ColombiaIndian 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.

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