ECOPETROL: Siluro Well, Jointly Drilled With Repsol, Is Dry

(RTTNews) - Colombia's Ecopetrol and Argentina's Repsol commitment to finding gas in the Colombian Caribbean Sea failed as the Siluro well, in La Guajira, was dry. In its Twitter account, Ecopetrol clarified that as "Gorgon confirmed a new gas province, Siluro is another well that was dry, a standard risk in the industry."

After the exploratory success in the Gorgon well in May, Ecopetrol confirmed the discovery of a new deep-water gas province in the Colombian Caribbean and informed that the exploratory campaign in the region would continue in the now-discarded Siluro well.

The Colombian oil company aims to dispel fears in a moment that the country faces an urgent need to find offshore reserves. The South American country's onshore reserves will last only five years more, according to the Colombian Petroleum Association (ACP). Besides, onshore oil output is being affected by factors such as a noncompetitive tax regime and attacks against oil industry infrastructure.

Ecopetrol is expecting for the second half of the year the result of the drilling in Molusco, the first offshore well operated by the company, in partnership with the Indian ONGC, and in the Brahma well, whose partners are Petrobras, Ecopetrol, Repsol, and Statoil.