Ecopetrol discovers oil in Colombian block

|About: Ecopetrol S.A. (EC)|By:, SA News Editor

Colombia's Ecopetrol (EC) says it found hydrocarbons in the third of three oil wells it has drilled in the onshore CPO-10 block located near the center of the country.

The Guainiz 1 well, drilled to a depth of 2.4 km, reached maximum production of 409 bbl/day during testing; EC says it will carry out further drilling in the block with a view to opening new fields.

New oil discoveries are important for the company as it has struggled to expand its reserves.