BOGOTA, Colombia, July 28, 2015 /CNW/ -- Ecopetrol S.A. (BVC:
ECOPETROL; NYSE: EC; TSX: ECP) informs that at a depth of 3720
meters, the Kronos-1 well verified the presence of hydrocarbons in
ultra-deepwater of Colombian south Caribbean area. This discovery proves the
geological model proposed for an unexplored area with high
hydrocarbon potential.
Kronos-1 is located in block Fuerte
Sur, 53 Kilometers (33 miles) offshore, where partners
Anadarko, operator, and Ecopetrol, each hold 50% interest.
According to Operator's quarterly operations report, after
drilling at a water depth of 1584 meters (5195 feet), the well
reached total depth of 3720 meters (12200 feet) and encountered a
net pay thickness between 40 to 70 meters (130 to 230 feet) of gas
bearing sandstones. Ecopetrol and Anadarko's integrated
technical teams are continuing to evaluate the Kronos discovery
results. Nowadays the drilling operation continues, aiming to reach
a deeper target to determine possible additional results.
"We are pleased to announce this discovery in Colombian
Caribbean deepwater, this time accompanied by Anadarko. This
discovery adds to the one accomplished in December at the Orca-1
well, located in the deep water of Tayrona block offshore Guajira,
where we are partners with Petrobras, Repsol and Statoil. These
results are very important and confirm the potential of the
Colombian Caribbean petroleum system in a vast area and are aligned
with Ecopetrol´s new strategy, in which one of the key
areas is the exploration on high potential marine basins,"
Ecopetrol president Juan Carlos
Echeverry said.
In 2012, the Ecopetrol – Anadarko partnership undertook
exploration in the South Caribbean
in blocks Fuerte Norte, Fuerte Sur, COL5, URA4 and Purple Angel.
Our partner, Anadarko, is one of the most recognized companies
worldwide for its experience in deepwater and ultra-deepwater
exploration, project management and execution. Currently Anadarko
is executing the biggest seismic acquisition campaign in the
history of the Colombian Caribbean with an extension of more than
16000 square kilometers.
Once activities at Kronos-1 are concluded, the drillship
Bolette Dolphin, employed in this
operation, will move to Fuerte Norte
Block to continue drilling Calasu-1 well, located 145
Kilometers or approximately 100 miles north east of Kronos-1.
Ecopetrol is the largest company in Colombia and is an integrated oil and gas
company; it is among the top 40 oil companies in the world and
among the top four oil companies in Latin
America. Besides Colombia –
where it generates over 60% of the national production – it has
exploration and production activities in Brazil, Peru,
and the US (Gulf of Mexico).
Ecopetrol owns the largest refinery in Colombia, most of the pipeline and
multi-product pipeline network in the country, and is significantly
increasing its participation in bio-fuels.
This release contains statements that may be considered
forward looking statements within the meaning of Section 27A of the
U.S. Securities Act of 1933 and Section 21E of the U.S. Securities
Exchange Act of 1934. All forward-looking statements, whether made
in this release or in future filings or press releases or orally,
address matters that involve risks and uncertainties, including in
respect of the Company's prospects for growth and its ongoing
access to capital to fund the Company's business plan, among
others. Consequently, changes in the following factors, among
others, could cause actual results to differ materially from those
included in the forward-looking statements: market prices of oil
and gas, our exploration and production activities, market
conditions, applicable regulations, the exchange rate, Ecopetrol's
competitiveness and the performance of Colombia's economy and industry, to mention a
few. We do not intend, and do not assume any obligation to update
these forward-looking statements.
For further information, please contact:
Head of Corporate Finance and Investor Relations
(A)
Maria Catalina Escobar
Hoyos
Phone: (+571) 234 5190
E-mail: investors@ecopetrol.com.co
Media Relations (Colombia)
Jorge Mauricio Tellez
Phone: + 571-234-4329
e-mail: mauricio.tellez@ecopetrol.com.co
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SOURCE Ecopetrol S.A.