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ONGC Videsh (OVL), a subsidiary and overseas arm of State-run Oil and Natural Gas Corporation (ONGC), said on Thursday it has made an oil discovery in the recently drilled well, Urraca-IX, in CPO-5 block, Llanos Basin, Colombia.
“Oil discovery in the lower mirador play in this well opens up new areas for further exploration in the northern part of the block,” the Ministry of Petroleum & Natural Gas (MoPNG) said in a statement.
ONGC Videsh had earlier discovered commercial oil in the lower sand play in Mariposa and Indico fields in the block in 2017 and 2018, respectively, which are currently commercially producing around 20,000 barrels of oil per day.
Block CPO-5 was awarded to ONGC Videsh in the 2008 bid round of Colombia. ONGC Videsh holds 70 per cent participating interest (PI) in the block along with operatorship. The remaining 30 per cent is held by partner Geopark. The company has a significant presence in Colombia, with three other exploratory blocks and a joint ownership of the oil producing company Mansarovar Energy Colombia (MECL).
Oil discovery in a new play in the block with the well Urraca-1X, reiterates the technical and operational prowess of ONGC Videsh and adds one more feather in its cap towards the extensive Exploration and Drilling campaign in Colombia, MopNG said.
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