M&P wins new Colombian playground
French outfit Maurel & Prom has signed a new exploration and production contract with Colombian regulators covering 2298 square kilometres in the Clarinero area of the eastern Llanos basin, to be operated on a 100% basis through M&P’s Hocol unit.
The area lies about 400 kilometres east of Bogota.
Hocol, a wholly owned subsidiary of M&P, already operates the Lince, SaltarAN, Cocli, Guarrojo and Sabanero, all on a 100% basis, in the same area of the Llanos basin.
Under the terms of the Clarinero contract, M&P is committed to shooting 250 kilometres of 2D seismic, 185 square kilometres of 3D data and drilling two exploration wells within 22 months. Royalties on the contract are estimated at 8%.
M&P also said it had plugged and abandoned the Brassia-1 and Cocli South-West-1 wells in Colombia and would abandon the Lince-1 well because of poor results.
The company said it was studying whether to abandone the Lince prospect or to define the prospect further with a new well.