The development stages:Exploration drilling/2004-08.The Tayrona block is located off Colombia's Caribbean coast and covers approximately 16,500 square kilometers. Petrobras Colombia operates the block and holds a 40% share in the Tayrona licenses. Repsol holds a 30% working interest, with Ecopetrol retaining the remaining 30% working interest. The companies are currently focused on collecting 3D seismic data across an area of 1,500 square kilometers. In September 2014, Statoil signed a farm-in agreement with Repsol, acquiring a 10% equity share in the Tayrona block. The agreement is subject to the National Hydrocarbon Agency (ANH) approval. In December 2014, the companies announced that Orca-1 well had been drilled and showed the accumulation of natural gas at a depth of 12,000ft (3,657m). Following completion of this phase of exploration and initial tests, in-depth technical studies are set to begin in order to determine the gas potential of the discovery.