Project Profile
Estimated value: US$4-US$5million
Location: Llanos Basin, Colombia
Area: 164.7 sq. km.
Exploration Start-up: October 2011
The Llanos 27 block covers an area of 164.7 sq. km. at the Llanos basin, Colombia. The project ended its first phase where 2 exploratory wells were drilled: Maní-1 (2011) and Flami-1 (2012), which targeted the Mirador and Une formations. Both wells obtained positive results. The second phase of the works include the drilling of 2 wells. 2D seismic studies has been conducted in the block, which also has 220km2 of 3D seismic. In 2008, the project was acquired by Brownston Energy (34.25%), Santa Maria Petroleum (34.25%), Montecz (19.5%) and NCT Energy Group (12%). In early 2014 Brownstone Energy transferred its shareholding in the block to Santa Maria Petroleum. In 2015, Santa Maria Petroleum ceded all interest in the project to NCT Energy Group.
As part of the extended test following the oil discovery, the operator has observed that total fluid production has continued to increase, with the watercut also continuing to increase and now exceeding 85% of production fluids. As a result, the operator is now investigating whether: a) the cement job from the original completion has failed to hold properly causing water to seep from lower zones; or b) if the water is being produced from the target reservoir. The operator has decided to suspend production of the well until the drilling of the Flami-1 well is completed, at which time the operator will review the option of carrying out another remedial cement job.
Operators:
NCT Energy Group: 100% interest