Exploration and Production/Development
By the end of 2018, Repsol had mineral rights in Colombia to 18 blocks: 11 exploration blocks, with a net surface area of 27,014 Km2 and 7 production/development blocks, with a net surface area of 270 Km2.
Net production in 2018 was 5.2 Mbbl of liquids and 8.2 Bcf of natural gas, with a total net production equivalent 6.6 Mboe (18,135 boe/d). The estimated net proven reserves for liquids and natural gas at the end of the year were 14.3 Mboe.
In April 2019, Repsol signed two exploration and production agreement with the National Hydrocarbons Agency (ANH), to perform exploration activities in the offshore blocks GUA OFF-1 and COL-4. Repsol will be operator in both.
- Following the tests performed on the exploratory well Lorito-1 in the CPO-9 block (Ecopetrol: 55% WI, and operator; Repsol: 45%), its commercial viability has been confirmed.
- The start of Phase 1 of the Akacias project Development Plan has been approved for this same block. The plan includes drilling of 19 production wells.
- Akacias reached a record production rate of 20,000 boe/d in March 2019.
- Three more discoveries have been made in the Cosecha block, with the Cosecha V-01, REX-NE-01, and Cosecha-C-01 wells.
of mineral rights
equivalent per day