Repsol YPF to Start Capachos Production Test 2004

Spanish oil company Repsol YPF will start a six-month production test on its Capachos block in Colombia's Llanos basin in early 2004, the company's geophysical director in Colombia, Libardo Araque, told BNamericas.

Repsol YPF is currently examining the 43km of 2D seismic it acquired on the block, and expects to have an idea of the size of the structure towards the end of this year, Araque said. Crude discovered at Capachos, which is in the Guadalupe formation, is 37 degrees API.

Repsol YPF is also in the process of interpreting 150km of 2D seismic on the San Miguel block to the north of Capachos, and expects to finish the studies by year-end. The two blocks represent Repsol-YPF's main activities in Colombia at the moment, although it is open to the possibility of acquiring new blocks, either through licensing opportunities - from state oil company Ecopetrol or the ANH, Colombia's new regulator from January 2004 - or by buying blocks from present owners, Araque said.