Ecopetrol to Wrap Up Tayrona Seismic Study this Month

Colombia's state oil company Ecopetrol will complete the collection of 1,100km of 3D seismic studies in its offshore Tayrona area this month, spokesperson Leyla Tovar told BNamericas.

Interpretation of the US$9mn studies, which were contracted out to Americana Western, will take some eight months, meaning that Ecopetrol expects to have identified drilling targets by the end of the year.

Tayrona covers 4.4 million hectares and includes the Bahia, Jarara, Oca and Cuisa blocks, the last two of which are collectively known as Nazareth. Ecopetrol already owns the Bahia block, which lies due north of Barranquilla, and has applied to national hydrocarbons agency, ANH, for 50% of the whole Tayrona area, Tovar said.

Colombia's whole offshore Caribbean area holds a potential 3.7 billion barrels of oil equivalent (boe/d).

ChevronTexaco already operates in Colombia's Caribbean waters, where it has some 7 trillion cubic feet of natural gas reserves in the Chuchupa and Ballena fields.

About Business News Americas: Business News Americas is a multilingual news and business information service that covers the most important original stories in 11 different business sectors throughout Latin America everyday. Visit BNamericas to access our real-time news reports, 7-year archive, Fact File company database, and latest research reports.

Click here for a Free two week trial to our Latin America Oil & Gas information service.