Colombia's "largest ever" Corporo field not productive

Dec 30, 1996 01:00 AM

The oil field heralded a few months ago as the largest yet discovered in Colombia is not commercially viable, the chairman of state-run oil company Ecopetrol said. During a visit to New York in September, President Ernesto Samper said the Corporo field, in Colombia's eastern plains, contained at least 700 million barrels in one zone alone. Mines and Energy Minister Rodrigo Villamizar said later the field may contain reserves of between 1.5 billion and 2 billion barrels -- larger than the Cusiana-Cupiagua field, also in the eastern plains, which contains reserves of 1.3 billion barrels. But recently Ecopetrol chairman Luis Bernardo Florez said, "We have definitively found that although there is oil (in Corporo) ... the field is neither productive nor commercial." He said Ecopetrol would now concentrate its exploration efforts on other parts of the Medina Block, where Corporo is located, which he said offered good prospects. Part of the problem with the Corporo field, which has cost Ecopetrol $ 50mm in exploration costs, has been caused by the dense rock formations coupled with the absence of water or gas, which would normally force crude to the surface.

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