Colombia’s state oil company Ecopetrol expects to complete an evaluation of crude reserves at its Gibraltar 1 exploration well in the Samore block by early next week (Mar.24-28), Ecopetrol exploration spokesperson Leila Tovar told BNamericas.
Mines and energy minister Luis Ernesto Mejia announced in early March that the find could hold as much as 200 million barrels of oil, making it the largest single oil discovery in Colombia in over a decade. Ecopetrol CEO Isaac Yanovich added at the time that the find could allow Colombia to stretch its oil self-sufficiency by a year.
However, Mejia and Yanovich’s initial optimism could turn to disappointment if a preliminary Ecopetrol study, which was leaked to the press this week, proves accurate.
The report suggests that the Gibraltar discovery may be almost 100% water.
“According to [a February 25-27 survey], the well pumped practically 100% water, with low salinity, at about 4,900 barrels per day,” the Ecopetrol report said.
But according to Tovar, further studies are necessary to confirm the amount of reserves. “For me to comment on the results of those studies now would be pure speculation,” she said.
Ecopetrol started drilling at Gibraltar in November 2002 after US oil company Occidental abandoned it in May. The Gibraltar 1 well was drilled to 12,040 feet and penetrated the Barco formation in the northern region of the Piedemonte Llanero area.
