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Cano Sur block commercially viable: Ecopetrol

Thursday, December 5, 2013

Colombia's state oil company Ecopetrol said the onshore Cano Sur block it owns, is commercially viable with proven reserves of 22.4 million barrels.

Ecopetrol said it expected to take production to around 25,000 barrels per day by 2016 at the block in the southeastern province of Meta, in which it will invest $656 million and drill 135 wells.

By the end of 2012, Ecopetrol's reserves were 1.88 billion barrels of oil equivalent, and the proven reserves in Cano Sur would add about 1 percent to that amount.

Source: Reuters