Ready for action: in Colombia
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Duo prime Chaza for the fast track
Solana Resources is set to fast track develiopment at the Chaza Block, in Colombia, after the Costayaco-1 well tested 5906 barrels of oil per day combined maximum flow rate, and added the magnitude of the find will require dedicated facilities and a pipeline to fully exploit its potential.
"These plans are currently being fast tracked but will take some time to implement," Solana said.
Solana holds 50% of the Chaza Block, with operator Gran Tierra Energy holding the other 50%.
Chaza is subject to a fiscally attractive Agencia Nacional de Hidrocarburos royalty/tax contract with no additional state participation, Solana added.