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Ecopetrol to ramp up output in promising Colombian oil field

  • Colombian's state-controlled oil company Ecopetrol (EC +1.9%) says it is ready to start ramping up production in its promising Eastern Caño Sur oil block as part of its efforts to boost production by a third over the next two years.
  • EC says the block is commercially viable and will see production rise to 25K bbl/day by 2016 from the current 1,700; investment will total $656M through 2018, with ~135 wells expected to be dug.
  • EC has said its 2012 production of 754K bbl/day will reach 1M by 2015, as it pours money into exploration and drilling.
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Comments (1)
  • svhonalee
    , contributor
    Comments (3) | Send Message
     
    As I am an investor in EC and this is very good news! Also reaffirmation of 1M bbl/day by 2015 target..
    5 Dec 2013, 01:24 PM Reply Like
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