Ana-Maria Lafuente, an analyst with consultancy firm Wood Mackenzie, gave the estimate at an OTC fringe event held by the Colombia-Texas Chamber of Commerce, although she stressed that no appraisal well has been drilled yet.

Petrobras has so far excluded the Colombian offshore assets from its sweeping divestment plans for international assets.

Demarco Epifanio, an internal consultant on Petrobras’ international investments team, told Upstream recently that the discovery was “very positive” in terms of confirming the potential of the play, located 40-kilometres off La Guajira peninsula, but he did not give an estimate or plans.

“We