The company has discovered oil in its onshore exploration block CPO-5, in Llanos basin, Colombia
ONGC Videsh, a subsidiary of Indian public sector oil and gas company ONGC, has announced the discovery of oil in its Colombian and Brazilian assets.
The company has discovered oil in its onshore exploration block CPO-5, in Llanos basin, Colombia and the deep offshore exploration block BM-SEAL-4, in Sergipe Alagoas Basin, Brazil.
Oil discovery in Colombia
In Colombia, ONGC Videsh has encountered the 8m oil bearing sands in its Well Sol-1, in the block CPO-5 at a depth of 2852m, which indicates the presence of oil pay further south of the block.
The company owns 70% participating interest (PI) and serves as operator for the CPO-5 block, while the remaining 30% PI is owned by Petrodorado South America (PDSA), Colombia.
ONGC Videsh said that it has previously discovered the commercial oil in wells Mariposa-1 well in 2017 and Indico-1 well 2018, which are under production now.
Oil discovery in Brazil
ONGC Videsh has discovered oil in Moita Bonita-2 well, located in exploration block BM-SEAL-4 at a depth of 2629m, deep offshore Brazil. The company is a consortium partner with the operator Petrobras.
The well has encountered a 39m thick gas bearing sand at the depth of 5227m and a 24m thick oil bearing sand at more depth.
Drill Stem Test (DST) performed in the gas carrier interval 5252m to 5291m demonstrated good production from the reservoir, said ONGC Videsh.
The company owns 25% PI in the block, while Petrobras operates the consortium holding 75% PI. The consortium partners intend to evaluate the discovery to determine the commerciality.
Recently, ONGC and EXXON-Mobil have signed a Memorandum of Understanding (MoU), to conduct joint technical studies and work together on deep water and other Petroleum Exploration Licence (PEL) blocks of ONGC in east and west coast, and open acreages for joint bidding.
ExxonMobil Asia Pacific vice president Michael Deal said: “We welcome the opportunity to work with ONGC and apply our collective expertise to be an even bigger part of India’s bright energy future”.
ONGC CMD Shashi Shanker said: “This meaningful partnership with ExxonMobil will be a step towards unlocking value in ONGC PEL offshore blocks, study open acreage areas and enable us to get closer to meeting Country’s energy aspirations”.