Total to explore for oil in Colombia
The Colombian oil company Ecopetrol has signed an association contract with TotalFina Elf, that will explore a
143,000 ha land in Magdalena. This year Ecopetrols signed 17 new contracts with private oil companies and is
negotiating 12 new areas, while there are companies interested in other 24 blocks.
The Colombian crude reserves are estimated 2,289 mm barrels, and the goal from Ecopetrol and the Colombian government
want find 5,200 mm barrels over the next 10 years.
Meanwhile, Ecopetrol presented to the Congress the results of the seismic survey made over a 1,200 Km area and nine
drilled wells in Piedemonte block, where is Niscota oil field.
Results estimated the reserves at 900 mm barrels to be tackled by British Petroleum. Future production in Niscota
field should peak 200,000 bpd within four years.
Other fields discovered by BP in Piedemonte include Florena, Pauto, and Volcanera, with reserves of 51 mm barrels,
that should begin production early next year with an output of 10,000bpd.
