Project Profile
Location: Putumayo Area
Area Piedemonte Norte Block: 78,743 acres
Area Piedemonte Sur Block: 73,897 acres
Area Rumiyaco Block: 82,624 acres
Gran Tierra Energy has signed three Exploration and Exploitation contracts with the National Hydrocarbon Agency totaling 235,264 acres in which Gran Tierra has a 100% working interest.
The Piedemonte Norte Block, encompassing 78,743 acres, lies southwest of the Chaza Block where the Costayaco field is located. The Piedemonte Sur Block, encompassing approximately 73,897 acres, is located immediately west of the Orito Field, the largest oil field in the Putumayo Basin. Further south, the Rumiyaco Block encompasses 82,624 acres in the central Putumayo Basin. These blocks were previously a part of the Putumayo West A and B Technical Evaluation Areas.
Gran Tierra Energy’s work obligations on the Piedemonte Norte Block will be completed in six consecutive phases. The first phase, which must be completed within 12 months, requires Gran Tierra Energy to acquire 70 km of 2D seismic data. Subsequent work phases are also 12 months in length, and include the following work obligations:
- Phase 2 - drill one exploration well to 4,500 feet;
- Phase 3 - acquire 70 square kilometers of 3D seismic;
- Phase 4 - drill one exploration well to 4,500 feet;
- Phase 5 - drill one exploration well to 4,500 feet;
- Phase 6 - drill one exploration well to 4,500 feet;
Piedemonte Sur Block (100% working interest, 73,897 acres)
Gran Tierra Energy’s work obligations on the Piedemonte Sur Block will also be completed in six consecutive phases. The first must be completed within 12 months, and requires Gran Tierra Energy to drill one exploration well to 3,000 feet. Subsequent work phases are also 12 months in length, and include the following work obligations:
- Phase 2 - acquire 55 kilometres of 2D seismic;
- Phase 3 - drill one exploration well to 3,000 feet;
- Phase 4 - acquire 60 square kilometres of 3D seismic;
- Phase 5 - drill one exploration well to 3,000 feet;
- Phase 6 - drill one exploration well to 3,000 feet;
Rumiyaco Block (100% working interest, 82,624 acres)
Gran Tierra Energy’s work obligations on the Rumiyaco Block will be completed in six consecutive phases as well. Gran Tierra has nine months to complete the first phase, which requires Gran Tierra Energy to reprocess 60 km of 2D seismic and acquire 68 km of additional 2D seismic. Subsequent work phases are 12 months in length, and include the following work obligations:
- Phase 2 - drill one exploration well to 8,000 feet;
- Phase 3 - drill one exploration well to 8,000 feet or acquire 50 square kilometres of 3D seismic;
- Phase 4 - drill one exploration well to 8,000 feet;
- Phase 5 - drill one exploration well to 8,000 feet;
- Phase 6 - drill one exploration well to 8,000 feet;
Operators:
Gran Tierra: Operator of all 3 blocks
Norte Block: Gran Tierra 70% interest, CEPCOLSA 30% interest
Sur Block: 100% interest
Rumiyaco: 100% interest