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Gas discovery lifts Colombia’s deep-water hopes

Colombia faces declining prospects at the conventional onshore oilfields that have fueled its decade-long oil and gas boom

But a consortium led by Brazil’s Petrobras announced the country’s first ever deep-water discovery. The gas discovery was made at the Orca-1 well, drilled in the Tayrona Block about 40 kms offshore La Guajira province, which borders neighbouring Venezuela. The companies did not say how big they thought the discovery might be, and released few details from the well, but said they are now evaluating the data and its economic potential.  In a presentation to analysts last year, Repsol said the Orca-1 well was targeting around 4 trillion cubic feet (cf) of gas. Colombia has 5.7 trillion cf of proved natural gas reserves. Petrobras operates the Tayrona Block with a 40% stake, while state-run Ec

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