Flagging up: Baraka Petroleum said the delayed Monza-1 well in Colombia is set to spud this week
Baraka primes bit at Monza-1
Perth-based Baraka Petroleum said the Monza-1 well on the Chicuaco Block in Colombia was set to spud later this week.
Baraka said in a statement that joint venture partner Omega Energy Colombia was completing on site preparations.
Drilling of the well has been twice put back due to delays in the arrival of the rig.
The well will be drilled to a depth of 1528 metres targetting sandstone reservoirs in the Carbonera and Guadalupe formations mapped using 3D seismic.
The objectives are thought to contain between 2 million and 5 million barrels of oil. Drilling is expected to take about 26 days.
A second planned well to be drilled subsequently using the same rig, Mugello-1, will target similar deposits, with a total depth of 1590 metres, Baraka said.
Omega Energy operates the Chicuaco block with a 63% stake, while Baraka holds a 20% stake, Trayectoria Oil & Gas 10% and TC Oil & Services 7%.