Rubiales oil extension declared commercial

Colombia’s state Ecopetrol has approved one commerciality declaration for an extension of giant Rubiales heavy oil field in the Llanos basin and is considering a second declaration.

By OGJ editors
HOUSTON, Apr. 26
-- Colombia’s state Ecopetrol has approved one commerciality declaration for an extension of giant Rubiales heavy oil field in the Llanos basin and is considering a second declaration.

Pacific Rubiales Energy Corp., Toronto, said successes at exploratory drilling campaigns on the Rubiales and surrounding Quifa blocks led it to file for commerciality on more than 40,000 ha. The areas being declared commercial are the Quifa southwest area and the Rubiales southwest area.

Successful drilling has added 163 million bbl of certified proved and probable reserves from exploration campaigns on both blocks.

Pacific Rubiales is preparing a request for a further exploration period at Quifa after the initial program found oil in the northern part of the block. The second exploration phase will include appraisal drilling and shooting more 2D seismic. The company’s budget for Quifa is $43.4 million for exploration and $65.5 million to build production facilities.

The commerciality zone at Quifa, which Ecopetrol has approved, is targeted for production of 30,000 b/d by the end of 2010 and 60,000 b/d by the end of 2011. That would include output from the entire Quifa block, including the 40,000 ha just declared commercial. The Quifa contract runs until 2031.

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