ONGC Videsh strikes commercial oil in Colombia block
State-run Oil and Natural Gas (ONGC) on Friday said its wholly owned overseas subsidiary ONGC Videsh (OVL) has made a “significant discovery” of oil in one of its onshore wells in Colombia. During initial testing, the well produced 6,300 barrels-per-day of crude oil, the company said.
The well is in the CPO-5 block in Colombia, where OVL holds 70% stake. The remaining stake in the block is held by GeoPark, an independent oil and gas company focussed in Latin America. This is the fourth commercial find in the block by OVL.
