Petrobras Strikes Black Gold in Colombia's Balay Block

RIO DE JANEIRO (Dow Jones), Mar. 11, 2010

Brazilian state-run energy giant Petroleo Brasileiro said Thursday that it had discovered oil at a well in Colombia.

The discovery was made in the Balay inland block. Petrobras holds a 45% operating stake in the block via its Petrobras Colombia Limited unit. Cepcolsa holds a 30% stake, while Petroamerica Oil Corp. has a 15% share and Sorgenia E&P Colombia B.V. holds the remaining 10%.

Petrobras said that the Balay-1 well showed the presence of oil rated at 28 degrees on the American Petroleum Institute's rating scale. Initial flow tests showed production levels at about 1,314 barrels a day.

The well was drilled to a depth of 4,652 meters, Petrobras said.

Copyright (c) 2010 Dow Jones & Company, Inc.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Junior Level Environmental Scientist / Geologist / Engineer
Expertise: Environmental Engineer|Geologist
Location: Rocky Hill, CT
 
Rig Moving Class A Truck Driver
Expertise: Rig Mover|Truck / HGV Driver
Location: Midland, TX
 
U.S. Zanesville: Sr Field Engineer - Directional Drilling
Expertise: Directional Driller
Location: Zanesville, OH
 
search for more jobs

Brent Crude Oil : $55.49/BBL 2.45%
Light Crude Oil : $52.42/BBL 2.04%
Natural Gas : $3.2/MMBtu 5.04%
Updated in last 24 hours