OTC Houston 2014. Deepwater and Unconventional E&P in Colombia. Forum

Roberto Garcia-Solorzano

Brazil on the other hand, explained some of the details of the work program of the operating consortium PPSA (Pre-salt Oil) to start the exploration activities in the Libra field, which are scheduled for 2007.

The Libra field although it is located in the subsalt polygon had to be entirely developed by Petrobras, but due to high indebtedness of Petrobras, they decided to accept the intervention of private investment with a production sharing contract.

The consortium plans a new seismic survey in the entire prospect / field, reprocess 3D seismic and two exploration wells will be drilled in the second half of this year. It is estimated that this field could yield approximately 12 BBOE of recoverable oil and a CAPEX of 200 Billion dollars.

It is all about rapidly developing the field (Fast Track). However, there are many limitations due to the high demand for deep water equipment and facilities, as well as trying to meet the high percentage local content in Brazil and the potential lack of qualified manpower.

As part of the OTC, the Deep Water and Unconventional E&P in Colombia forum was developed.

The forum was organized by the Colombia Texas Chamber of Commerce. This organization promotes startegic allianzes between Colombia and Texas in the energy field and in any other type of comercial activities.

Figure - 2. A perspective of Colombia production activities was presented and compared with other producing countries of Latin America, their strategies and challenges to continue to get rising oil production rates either through discoveries of conventional or unconventional reservoirs (source: Roberto Garcia-Solorzano).

Colombia is trying to get more investment for the exploration of conventional offshore fields in order to increase daily crude oil production which in 2013 exceeded one million barrels of oil per day.

By the end of this year and early next year several exploratory wells are scheduled in the Colombian Caribbean area. This area of South America remains virtually unexplored. There is only one commercial field the Chuchupa Field, located near Riohacha.

Recently in the offshore area of Venezuela, Repsol found the Campo La Perla on a basement of approximately 27,410 acres in size. Tertiary carbonates are slim preserve regionally and then give birth to this giant field. The maximum net gas section was 775 feet in well No. 1.

The Colombian Caribbean area, regardless of the tectonic model used for its development has a great potential for giant fields even in areas of extensional tectonics. Obviously, to find them wells need to be drilled.

Unexplored areas of offshore, particularly deepwater will be the source of oil discoveries in over 50% of new discoveries in the world. One of the latest discoveries -practically stratigraphic , from Petrobras in Brazil is turbidite in the Sergipe Alegoas Basin.

For non-conventional hydrocarbons one of the most attractive areas is the Middle Magdalena Valley. This basin has geological characteristics and a rock source capable of producing hydrocarbons. There are many other areas offered in Round 2014.

Having to drill thousands of wells for the exploitation of non-conventional reservoirs, where local communities do not have many incentives, is a big challenge because the mineral resources are owned by the state.


OTC Houston 2014. Deepwater and Unconventional E&P in Colombia. Forum Roberto Garcia-Solorzano Brazil on the other hand, explained some of the details of the work program of the operating consortium PPSA (Pre-salt Oil) to start the exploration activities in the Libra field, which are scheduled for 2007. The Libra field although it is located in the subsalt polygon had to be entirely developed by Petrobras, but due to high indebtedness of Petrobras, they decided to accept the intervention of private investment with a production sharing contract. The consortium plans a new seismic survey in the entire prospect / field, reprocess 3D seismic and two exploration wells will be drilled in the second half of this year. It is estimated that this field could yield approximately 12 BBOE of recoverable oil and a CAPEX of 200 Billion dollars. It is all about rapidly developing the field (Fast Track). However, there are many limitations due to the high demand for deep water equipment and facilities, as well as trying to meet the high percentage local content in Brazil and the potential lack of qualified manpower. As part of the OTC, the Deep Water and Unconventional E&P in Colombia forum was developed. The forum was organized by the Colombia Texas Chamber of Commerce. This organization promotes startegic allianzes between Colombia and Texas in the energy field and in any other type of comercial activities. Figure - 2. A perspective of Colombia production activities was presented and compared with other producing countries of Latin America, their strategies and challenges to continue to get rising oil production rates either through discoveries of conventional or unconventional reservoirs (source: Roberto Garcia-Solorzano). Colombia is trying to get more investment for the exploration of conventional offshore fields in order to increase daily crude oil production which in 2013 exceeded one million barrels of oil per day. By the end of this year and early next year several exploratory wells are scheduled in the Colombian Caribbean area. This area of South America remains virtually unexplored. There is only one commercial field the Chuchupa Field, located near Riohacha. Recently in the offshore area of Venezuela, Repsol found the Campo La Perla on a basement of approximately 27,410 acres in size. Tertiary carbonates are slim preserve regionally and then give birth to this giant field. The maximum net gas section was 775 feet in well No. 1. The Colombian Caribbean area, regardless of the tectonic model used for its development has a great potential for giant fields even in areas of extensional tectonics. Obviously, to find them wells need to be drilled. Unexplored areas of offshore, particularly deepwater will be the source of oil discoveries in over 50% of new discoveries in the world. One of the latest discoveries -practically stratigraphic , from Petrobras in Brazil is turbidite in the Sergipe Alegoas Basin. For non-conventional hydrocarbons one of the most attractive areas is the Middle Magdalena Valley. This basin has geological characteristics and a rock source capable of producing hydrocarbons. There are many other areas offered in Round 2014. Having to drill thousands of wells for the exploitation of non-conventional reservoirs, where local communities do not have many incentives, is a big challenge because the mineral resources are owned by the state.
The Colombia Texas Chamber of Commerce - June Issue #11