Industry

OVL strikes oil in Colombia block

ONGC Videsh Ltd., the overseas investment arm of state-owned Oil and Natural Gas Corporation (ONGC), has made a ‘significant’ oil discovery in an onshore block in Colombia.

OVL struck oil while drilling an appraisal well, ‘Indico-2,’ in CPO-5 block in Llanos Basin of Colombia, the company said.

OVL is the operator in the block with 70% stake. Geopark Ltd., an independent oil and gas company focused in Latin America, has the remaining 30%.

‘Indico-2’ encountered a net pay of 147 feet which produced oil at 6,300 barrels per day.

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Printable version | Jan 17, 2021 12:44:45 AM | https://www.thehindu.com/business/Industry/ovl-strikes-oil-in-colombia-block/article33259987.ece

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