The foreign investment arm of India’s state-run Oil & Natural Gas Corporation (ONGC) has struck oil on the CPO-5 exploration block, onshore Colombia.
ONGC Videsh drilled the Kama-1X well to a total depth of 10,500 in Colombia’s Llanos basin and struck oil over two intervals in the primary target horizon of the Mirador formation.
ONGC said the first interval between 9643 and 9649 feet produced oil at a rate of between 120 to 300 barrels per day.
It added that the oil was heavy in nature with API gravity of about 14.
ONGC said an extended production test would be carried out on the second interval in the Upper Mirador formation, at a depth of 9533 feet, “in due course” to assess the potential and commerciality of the find.
The company is required to drill two exploration wells under the phase 1 of exploration on the block, with the second well expected to spudded later this month.
ONGC Videsh holds a 70% stake in the CPO-5 Block, with Canada’s Petrodorado Energy holding the remaining 30% equity.
