Early estimates suggest the potential availability of about 300 million barrels of oil in place at the Oglan discovery.

Drilled to a total depth of 6,450ft, the well discovered a 236ft net crude oil column (16° API).

The well flowed at 1,100 barrels of oil per day during a production test, constrained by surface facilities.

The Oglan well’s data acquired indicate a production capacity per well up to 2,000 barrels of oil per day.

The company will commence the studies for the Oglan discovery commercial exploitation, which is located just 7kms from the processing facilities of the Villano field, also inside Block 10.

The Block 10 currently produces approximately 12,500 barrels per day, which is owned entirely by Eni.

The Oglan discovery is the result of the company’s new exploration campaign, which aims to develop Block 10 under the new service contract signed in 2010 with the Ecuadorian government.