Omega Energy Colombia is acting as the buyer in the deal. Ongoing activities include the transfer of assets and liabilities, final settlements and provision of information about the deal to the Colombian authorities.
LUKOIL Overseas entered the project in April 2002, having signed an agreement for exploration and development of the Condor block with state company Ecopetrol. Share Interests in the Project are as follows: LUKOIL - 70%, Ecopetrol - 30%. The Condor block is situated in the Andes Foothills (Boyaca department's area), 70 km south-east of Bogota, the capital of Colombia. The total area of the block is about 3.1 square km. Over these years an office in Bogota was established and a comprehensive work program was implemented including reprocessing of historical 2D seismic data, acquisition of 3D-Sparse seismic covering 700 square km and drilling of 3 exploration wells on the Medina and Lengupa structures. A field with probable reserves of about 100 million barrels of high quality Vasconia oil was discovered and pilot production began in the Medina area located as high as 1,100 m above the sea level. Therefore, historical costs of the project were partly reimbursed through the sales of produced oil.
All the obligations under the project have been fulfilled resulting in accumulation of a unique experience of deep drilling and field development in a remote mountainous area, providing for safety and security of petroleum operations and implementation of large social programs which proved to be most valuable for the region which has previously seen military operations against armed rebels and drug dealers.
A decision to sell a share in the Condor project was taken due to optimization of the company's asset portfolio.
31 Января 2025 | пятница | 16:54
