Uchenna Izundu
International Editor
LONDON, Jan. 30 -- Colombia's National Hydrocarbon Agency (ANH) has granted exploration and production rights to Emerald Energy PLC, London, for a 235-sq-km block in the Putumayo basin in southwestern Colombia.
Under the Helen E&P contract, Emerald will shoot a 2D seismic survey over 30 km and reprocess 120 km of existing 2D seismic data. The contract is for a period of up to 16 months, and if Emerald moves into a second phase, the minimum work program would include drilling 1 well to 10,000 ft.
Subject to approval by ANH, Emerald plans to codevelop the block with US-based Vetra Energy Group LLC, which would pay all costs of the initial exploration phase and would be assigned operatorship and an 85% interest in the contract. Emerald will retain a 15% interest in the block and will be fully carried through the first exploration phase.
Contact Uchenna Izundu at [email protected].
