OVL Strikes Oil, Gas in Brazil, Colombia

India’s top overseas producer ONGC Videsh (OVL) has reported a pair of deep oil and gas discoveries in Colombia and Brazil.

The international arm of ONGC said in a statement on October 16 it had found gas at the BM-SEAL-4 deepwater block off Brazil, in the Sergipe Alagoas basin. The Moita Bonita-2 well bore into a gas-bearing sand layer with a thickness of 39 metres, at a depth of 5,227 metres. An oil-bearing sand formation was also encountered at a lower depth. Drill steam tests yielded good production from the gas reservoir, OVL said.

The company has a 25% stake in BM-SEAL-4, while Brazilian operator holds the remaining 75%. The pair have drilled a series of wells at the site since making an initial discovery in August 2012. They plan to evaluate the latest find to assess its commercial value.

OVL also struck oil at exploration block CPO-5, in Colombia’s onshore Llanos basin. The Sol-1 well encountered an 8-metre oil-bearing sand layer at a depth of 2,852 metres, confirming the extent of oil pay further south of the block. OVL made commercial discoveries at two wells targeting the same pay in 2017 and 2018, both of which are now in production. OVL operates CPO-5 with a 70% position, with Colombia’s PDSA holding 30%.