The company drilled the Sabanero-1 exploration well, located in the Llanos central region some 350km south east of Bogota, to 3,032ft and encountered oil in the Carbonera C7 formation with a thickness of 40ft and a potential yet to be confirmed.
With an intention to make the block commercial, the company will immediately start drilling the deviated exploration well Sabanero-SE1 from the same platform to prove additional reserves. The area around Sabanero-1 is covered with 3D seismic which would facilitate field evaluation and potential development.
Following the drilling result, the company plans to invest in Colombia. Earlier, the company has conducted exploration work in the Colombian Llanos (Ocelote field) and Foothills basins.
