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Ecopetrol and Repsol Unveil Promising Oil Discovery in Tinamú-1 Well – BNN Bloomberg

Ecopetrol and Repsol have announced a new oil discovery in the Tinamú-1 well, located in department of Meta
Image Credit: El Heraldo Journal
Ecopetrol and Repsol have announced a new oil discovery in the Tinamú-1 well, located in department of Meta
Image Credit: El Heraldo Journal

María Alejandra Trujillo, BNN Bloomberg

EnergiesNet.com 05 30 2023

Ecopetrol and Repsol have announced a new oil discovery in the Tinamú-1 well, located in the CPO 9 block in the Castilla La Nueva municipality, in the department of Meta. The discovery pertains to a significant deposit of heavy crude oil, specifically measuring 16° API, which is a typical characteristic of this particular region in the country.

According to local media, the Tinamú-1 well, which played a pivotal role in uncovering this oil reserve, was drilled to a depth of approximately 2.4 kilometers from the surface. Notably, both corporations emphasized that the drilling operations were conducted without any harm to personnel or industrial processes, and no adverse environmental impacts were observed.

Environmentally Safe and Profitable: Ecopetrol and Repsol’s Tinamú-1 Well Exceeds Expectations

In the initial testing phase, the combined efforts of the two companies yielded a production of 7,329 barrels of crude oil, accompanied by a 1% water content. As the next step, Ecopetrol and Repsol are preparing to submit an evaluation plan to the National Hydrocarbons Agency (ANH). This plan aims to facilitate a thorough assessment of the potential and size of this newly discovered deposit. Subsequently, a testing phase will commence to further explore and quantify its resources.

Record Profits and New Oil Find: Ecopetrol Sets Stage for Colombia’s Energy Security

Ricardo Roa Barragan, the president of the Colombian oil company, expressed the commitment of both Ecopetrol and Repsol to continue their efforts in exploring new oil and gas reserves, with the aim of ensuring energy security for the people of Colombia. The discovery of Tinamú-1 is viewed as another significant stride towards accomplishing this objective.

As the reports provided by Ecopetrol and Repsol informed, the well is situated within the Castilla and Chichimene fields, which are under the management of the Colombian company. These fields are located in the Meta department, known for being a major hub for hydrocarbon production in the country.

In 2022, Colombian oil corporation, the largest company in the country, reported a doubling of its profits compared to the previous year, reaching a sum of 16.7 trillion pesos (approximately 3,494 million dollars). This impressive financial achievement was attributed to a favorable price environment and increased production contribution from its subsidiary, Permian, which operates in the oil-rich region of Texas, United States. The company disclosed these details in a public document.

bnn.network.com 05 20 2023

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