GeoPark prepares for Llanos basin development

Flowline connection to help independent company develop Colombian oilfields
Latin America player GeoPark on Wednesday said a flowline project to connect one of its Colombia blocks to a principal pipeline was on budget and on schedule, preparing the company for future production growth in the Llanos basin.
The new flowline will connect the GeoPark-operated Llanos 34 block to the Oleoducto de los Llanos (ODL) and is expected to be operational in the first quarter of 2019.
The flowline has a capacity of up to 100,000 barrels per day, and GeoPark said it would help reduce operating and transportation costs. The ODL has a capacity of 314,000 bpd.
The connection of the flowline allows GeoPark to ramp up development in the block, where it is prepared to spend $85 million to $95 million in 2019 to target new prospects as part of its work programme.
The plans includes the development and appraisal of the Tigana and Jacana oil fields, along with 22 to 24 development and appraisal wells and up to three exploration wells in the Llanos 34 block.
The company is already hitting milestones for the block—at the end of December 2018 gross operated production in the Llanos 34 surpassed a 70,000 bpd target.
Last year, the company tested and put on production seven new wells in three oil fields in the block—five in the Tigana field, two in the Jacana field, and one in the Tua field—which are all currently producing at 6800 bpd.
In the Tigui oil field, also in the Llanos 34 block, GeoPark is currently drilling the Tigui 2 appraisal well about 870 metres east of Tigui 1 to delineate the reservoir. The company had drilled Tigui Sur 1 near the southern border of the block and successfully tested the well in the fourth quarter of 2018. The field is currently producing 1900 bpd.
GeoPark holds a 45% working interest in the block, which spans 82,200 acres. Llanos 34 represents 96% of the company’s Colombian production in the fourth quarter of 2018, which grew 26% to an average net production of 30,641 barrels of oil equivalent per day, when compared to the same period in 2017.
The company in November sold some of its non-core assets in Colombia, the La Cuerva and Yamu blocks, in a $20 million deal with Perenco Oil and Gas. GeoPark said it would continue operating the blocks until the deal closes, which is expected in the first quarter of 2019.