Project Profile
Location: Llanos basin, South America
Area: 453km2
Exploration well test production: 285,000 bbl (Balay-1, 2011)
The Balay Field is located in the Llanos basin, South America. The discovery was a relatively small one; in total the field covered an area of 453km2. Balay was first discovered by Petrobras in 2010. However, the field was shut in at the end of 2014 and was relinquished to the regulatory agency ANH (Agencia Nacional de Hidrocarburos) in 2016. This was due to the prediction of high drilling and transport costs that would have been essential to ensure the fields success, therefore deeming the project uneconomic.
Operator:
Petrobras relinquished the licence in 2016
Agencia Nacional de Hidrocarburos