Colombia's state oil company Ecopetrol reported late on July 28 the presence of hydrocarbons at its Kronos-1 well in ultra-deep waters of the Caribbean Sea.
The discovery was made at a depth of 3,720 meters (12,200 feet) at the well in the Fuerte Sur block, about 53 km (33 miles) offshore, Ecopetrol said in a filing with the financial regulator.
Colombia, Latin America's fourth biggest oil producer, is struggling to increase output to make up for revenue lost by the decline in global oil prices.
Ecopetrol jointly owns the Kronos-1 with Texas-based Anadarko.
Colombia had output above 1 million barrels a day so far this year and reserves of around 2.3 billion barrels in 2014.
Recommended Reading
Defeating the ‘Four Horseman’ of Flow Assurance
2024-04-18 - Service companies combine processes and techniques to mitigate the impact of paraffin, asphaltenes, hydrates and scale on production — and keep the cash flowing.
Tech Trends: AI Increasing Data Center Demand for Energy
2024-04-16 - In this month’s Tech Trends, new technologies equipped with artificial intelligence take the forefront, as they assist with safety and seismic fault detection. Also, independent contractor Stena Drilling begins upgrades for their Evolution drillship.
AVEVA: Immersive Tech, Augmented Reality and What’s New in the Cloud
2024-04-15 - Rob McGreevy, AVEVA’s chief product officer, talks about technology advancements that give employees on the job training without any of the risks.
Lift-off: How AI is Boosting Field and Employee Productivity
2024-04-12 - From data extraction to well optimization, the oil and gas industry embraces AI.
AI Poised to Break Out of its Oilfield Niche
2024-04-11 - At the AI in Oil & Gas Conference in Houston, experts talked up the benefits artificial intelligence can provide to the downstream, midstream and upstream sectors, while assuring the audience humans will still run the show.