Petrobras makes oil find on Balay block in Colombia

Petroleo Brasileiro SA (Petrobras) reported a subsidiary making an oil discovery on Balay exploration block in Colombia.

By OGJ editors
HOUSTON, Mar. 11
-- Petroleo Brasileiro SA (Petrobras) reported a subsidiary making an oil discovery on Balay exploration block in Colombia. The Balay-1 wildcat well was drilled to a depth of 4,652 m in the Llanos basin in Casanare province.

Well testing confirmed the presence of 28º gravity oil with an initial flow rate of 1,314 b/d. Future tests will take place to evaluate the potentiality of the field, Petrobras said.

Petrobras Colombia Ltd. serves as operator and holds a 45% working interest. The project is being developed in partnership with Cepcolsa 30%, Sorgenia E&P Colombia BV 10%, and Petroamerica Oil Corp. 15%. Earlier this year Petroamerica took a farmout from the Petrobras unit to earn an interest in the block (OGJ Online, Jan. 11, 2010).

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