BOGOTA, Colombia, May 3, 2017 /CNW/ -- Ecopetrol S.A. (BVC:
ECOPETROL; NYSE: EC) ("Ecopetrol" or the "Company) reports that the
Gorgon-1 exploratory well showed presence of gas in the Colombian
Caribbean deep-water, in zones with depths ranging between 3,675
and 4,415 meters below average sea level.
The discovery proves gas presence on a structured located in the
same geological trend of the Kronos field. Gorgon-1 is located 27
km away from the Purple Angel-1 well, which recently confirmed the
extension of the gas Reservoir discovered with the Kronos-1 well in
2015.
The three successful wells confirm to Ecopetrol the existence of
a gas-bearing province in this zone of the Colombian Caribbean.
Gorgon-1 is part of the Purple Angel block. This block borders
the Fuerte Sur blocks (where Kronos 1 was discovered), Cl-5 and
Fuerte Norte. Ecopetrol's holding in
these blocks is 50% and Anadarko is the operator, also holding
50%. The four blocks cover a total area of 14,900 square
kilometers.
As reported by Anadarko, the operator, the well established a
record for the country, as it crossed the greatest water layer in
the history of offshore drilling of Colombia (2,316 m). Between 3,675 and 4,415
meter depth (more than 1.3 kilometers below the marine bed), net
gas sand intervals were found, which add up to 80 and 110 meters
(260 to 360 feet).
The confirmation of gas fields in the area opens the possibility
for Colombia to develop a gas
production specialized "cluster", which would allow for sharing
facilities and improving projects' profitability and
efficiency.
This release contains statements that may be considered
forward looking statements within the meaning of Section 27A of the
U.S. Securities Act of 1933 and Section 21E of the U.S. Securities
Exchange Act of 1934. All forward-looking statements, whether made
in this release or in future filings or press releases or orally,
address matters that involve risks and uncertainties, including in
respect of the Company's prospects for growth and its ongoing
access to capital to fund the Company's business plan, among
others. Consequently, changes in the following factors, among
others, could cause actual results to differ materially from those
included in the forward-looking statements: market prices of oil
& gas, our exploration and production activities, market
conditions, applicable regulations, the exchange rate, the
Company's competitiveness and the performance of Colombia's economy and industry, to mention a
few. We do not intend, and do not assume any obligation to update
these forward-looking statements.
For further information, please contact:
Head of Corporate Finance and Investor Relations
María
Catalina Escobar
Phone: (+571) 234 5190
E-mail: investors@ecopetrol.com.co
Media Relations (Colombia)
Jorge
Mauricio Tellez
Phone: (+ 571) 234 4329
E-mail: mauricio.tellez@ecopetrol.com.co
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SOURCE Ecopetrol S.A.