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ONGC Videsh Update on Oil Discoveries in Colombia & Brazil

Gasoil News - Published on Fri, 18 Oct 2019

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Oil and Natural Gas Corp’s overseas arm ONGC Videsh has made a major gas discovery in Brazil and an oil discovery in Colombia, the company said in a statement on Wednesday. It said “Well Sol-1, in the block CPO-5 encountered the oil bearing sands of 8 meters at a depth of 2852m. Oil discovery in Sol-1 confirms the extent of oil pay further south of the block. ONGC Videsh owns 70% participating interest in CPO-5 block while the balance 30% is owned by Colombia's Petrodorado South America PDSA.

In Brazil, the consortium of Petrobras and ONGC Videsh completed drilling of the well Moita Bonita-2 in deep offshore block BM-SEAL-4 at a water depth of 2629m and encountered gas bearing sand of total thickness of 39m at the depth of 5227m and oil bearing sand of total thickness of 24m at deeper depths. Petrobras is the operator of the consortium with 75% participating interest and ONGC Videsh owns 25%. ‘The consortium plan to continue the operational activities to evaluate the discovery to ascertain its commerciality,” the company said.

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Posted By : Rabi Wangkhem on Fri, 18 Oct 2019
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