The oil was encountered at depths of 1,722-2,220 metres. The discovery comes after the ELM-1004 well struck about 40 metres of gas in the Lower Tobifera formation in the same permit in May.
“If hydrocarbon saturations across this section are confirmed, the preliminary evaluation might represent an interval of some 500 metres,” the statement said.
Echo and partner Companı̃á General de Combustibles plan to test the well in July in a “critical next step to establish the effectiveness and deliverabilty of the reservoir.”
Reaching a total depth of 2,460 metres in the Upper Jurassic Tobífera formation, EMS-1001 is the third well drilled in the licence under a four-well campaign that began in May.
Spain's Iberdrola plans to triple its offshore wind assets in the coming years, bringing their value to USD 18 billion,… Read More
Saipem has been awarded a USD 850-million contract for subsea works in Angola by local BP-Eni joint venture Azule Energy,… Read More
Arrow Exploration has spud a new production well on the Tapir block in Colombia’s Llanos Basin, the company announced on… Read More
Petronas has made a third oil and gas discovery in Suriname's offshore Block 52, the Malaysian company announced on Wednesday Read More
Japanese power generation player JERA on Thursday announced plans to invest USD 32 billion in LNG, renewables and new fuels… Read More
Chevron is planning to exit its North Sea operations after 55 years of activity in the oil hotspot, Reuters reported… Read More
This website uses cookies.