BOGOTA, Colombia, March 19, 2013 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC; TSX: ECP) reports that it has proven the presence of heavy crude oil at Pastinaca 1, an exploratory well located within the municipality of Puerto Lopez, Meta Province.
The well is part of the CPO-10 Exploration and Production Agreement of December 18, 2008 between Ecopetrol and the National Hydrocarbons Agency.
Initial tests carried out on the Pastinaca 1 well using an electro-submersible artificial lift, yielded an average crude oil production of 202 barrels of oil per day (BOD) of 11.7° API (heavy crude) and a water cut of 80%. Accumulated production to date is more than 1,448 barrels of oil.
The Pastinaca 1 well is the first hydrocarbons discovery in a well 100% owned by Ecopetrol since the beginning of 2013. The Company plans to continue its exploratory activities on block CPO-10 in the months to come.