ONGC Videsh (OVL) has pulled off another commercial oil discovery in Colombia, this time through the drilling of the Indico-2 well in the onshore block CPO-5 in Llanos Basin.

The overseas arm of Indian state-owned Oil and Natural Gas Corporation (ONGC), ONGC Videsh is the operator of the CPO-5 block with a stake of 70%. ONGC Videsh is partnered in the Colombian block by Latin American oil company Geopark, which holds the remaining 30% stake.

The Indico-2 well is located nearly 0.9 km northwest of the well Indico-1 in subsurface. It was spudded in late Sep, 2020.

At a target depth of 10,925ft, the Indico-2 well intersected a net pay of 147ft in the LS-3 reservoir of Une Formation (Cretaceous). The formation during initial testing produced oil of 35.2 degrees API in commercial quantity @ 6,300 BOPD, stated ONGC.

ONGC Videsh makes new oil discovery in onshore CPO-5 block in Colombia. Photo courtesy of Oil and Natural Gas Corporation Ltd.

Presently, the Indico-2 well is flowing under Short Term Testing with multi bean study for additional evaluation. It marks the fourth commercial find in the CPO-5 block by ONGC Videsh.

In late 2018, light oil was discovered in Indico-1X, the first well in the Indico field, and so far, it is said to have shown a sustained flow @ 5200 BOPD with a cumulative production of more than three million barrels of oil.

ONGC stated: “The Company now plans to drill more wells to explore the other plays in the block in immediate future. OVL is also undertaking additional 3D Seismic data to map more drillable prospects in the other sectors of the block.”

  Oil and gas industry news