Lukoil makes oil find on Condor block in Colombia

OAO Lukoil affiliate Lukoil Overseas Colombia Ltd. made an oil discovery at the Medina structure on the Condor exploration block in Colombia.

By OGJ editors
HOUSTON, Feb. 8 -- OAO Lukoil affiliate Lukoil Overseas Colombia Ltd. made an oil discovery at the Medina structure on the Condor exploration block in Colombia. The block covers 3,089 sq km in the western Llanos oil basin and is one of Colombia's largest exploration blocks.

The find marks Lukoil's first hydrocarbon discovery in the Western Hemisphere, the company said. There was no report from the company regarding flow rates or the oil's properties.

Lukoil Overseas operates the project with 70% interest, while Colombia's Ecopetrol National Oil Co. holds 30%.

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