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ONGC Videsh strikes in Colombia

By  Tuesday, 13 October 2015 04:13
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The overseas arm of Oil and Natural Gas Corp. (ONGC), ONGC Videsh, found 54ft of net pay thickness in the Mirador formation of the onshore Loto-2 well in Colombia.

Located in the CPO-5 block, the well was directionally drilled to a total depth of 10,320ft and has been logged and cemented. The two are currently testing the Mirador reservoir, with results expected in the next 14 days, said joint venture partner, Petro Dorado.

ONGC Videsh has 70% stake in the block and Petro Dorado, a subsidiary of Amerisur Resources, has 30% working interest.

The Indian oil major was awarded the 1992.47sq km CPO-5 block in a 2008 Colombian bid round. Located in the Llanos basin, so far, two exploratory wells, Kamal-1 and Loto-1, have been drilled between 2012-13. 

In Colombia, ONGC Videsh also has interest in the RC-9 block, together with Ecopetrol, which was awarded the block in the 2007 Colombian bid round. RC-9 is located near the Chuchupa and Ballena gas fields in the offshore Guajira basin.

Ecopetrol as operator has 50% interest and ONGC Videsh holds the remaining. Similarly, RC-10 in the Guajira basin is another development of the duo, in which ONGC Videsh plays operator (50%) and Ecopetrol is block partner (50%). 

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