E&P heavyweights team up offshore Colombia

Colombia

BOGOTA, April 4, 2019 – Colombia’s National Hydrocarbons Agency has granted licences for two offshore blocks that will together see more than USD 700 million in total investments, international media reported Wednesday.

Repsol will operate the GUA-OFF-1 area in a 50-50 partnership with NOC Ecopetrol, as well as the COL-4 block under a similar arrangement with ExxonMobil.

In other news from Colombia, Ecopetrol subsidiary Hocol has made a discovery in the VIM-8 block in the Middle Magdalena Valley. The Arrecife-1ST well, drilled to a final depth of 3,020 metres, struck gas in the Upper Oro Cienaga formation, Upstream Online reported.

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