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Monday, 06 October, 2008, 13:20 GMT | more prices >>

Pacific Rubiales gets blocks in Llanos



By Upstream staff 

Canadian player Pacific Rubiales Energy has been awarded blocks CP-1 and CP-6 in the heavy oil round for the Llanos basin of Colombia, organised by the Agencia Nacional de Hidrocarburos de Colombia (ANH).

A 100% interest in Block CP-1 has been awarded to Pacific Rubiales.

This block has an area of 989,963 hectares and is located in the northern part of the basin on the border with Venezuela, east of the giant Canon Limon oil field.

Block CP-1 is also at the eastern limit of the Arauca technical evaluation area, where the company is already performing exploration activities.

The total investment for this block will be $31.1 million, which will be spent on the acquisition of 410 kilometres of 2D seismic and the drilling of one stratigraphic and three exploratory wells, to be performed within 24 months from the signature of the contract.

Block CP-6 was awarded to a consortium formed by Pacific Rubiales and Talisman Energy Colombia, in which each company will have a 50% working interest, with Pacific Rubiales acting as the operator.

This block has an area of 608,247 hectares and is located to the southwest of the Rubiales oil field and the Quifa association contract.

The total investment for this block will be $49.4 million, to be spent on acquiring 636 kilometres of 2D seismic and the drilling of one stratigraphic and five exploratory wells.

The company said these activities must be completed by the company within 24 months from the signature of the contract.


Thursday, 17 July, 2008, 22:05 GMT  | last updated: Thursday, 17 July, 2008, 22:05 GMT

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