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Fracking Regions Confirmed By ACP

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farml1234   Saturday, 09/28/19 10:34:58 PM
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Fracking Regions Confirmed By ACP


The regions where fracking pilots will be held


Colombia25 Sep 2019 - 01:45 Pm


The oil sector expects to start the operation of these research projects next year.





By:

Mara Fernanda Herrera



Fracking, an activity that is used for the exploitation of hydrocarbons.



The Colombian Petroleum Association (ACP) spoke about the regions where the integral research pilots will be developed , which will determine the viability of the exploration and exploitation of Non-Conventional Deposits through Fracking.



Related article : Ecopetrol will carry out fracking pilot test in 2020



The union said that four pilots will be carried out, three of them will be located in the ' Middle Valley Magdalena Basin ' and will be operated by Ecopetrol, ConocoPhilips and ExxonMobil; the other will be developed by the Drummond company, in the Cesar-Ranchera basin , in the department of La Guajira.



The president of the oil union, Francisco Jos Lloreda, indicated that they are attentive to the instructions given by the National Government on the regulation and the protocols that will be established, in order to initiate pilot fracking projects in Colombia.



The union representative added that " the industry expects to launch the pilots next year, that does not mean that overnight we have some wells producing for evaluation processes , no, that takes time, but we aspire to start at least civil works the other year, hopefully we are drilling the other year. "



Figures from the sector indicate that the four pilots will demand investments for 600 million dollars a year, but in the production stage they will demand investments that amount to 5 billion per year.



" With the pilots it will be possible to validate the potential that exists in unconventional deposits in Colombia , where the oil reserves could practically triple and in terms of gas it would take the reserves to 25 years," said Lloreda.



More here : Government presented 59 areas with oil and gas potential for auction



He added that the four projects could produce 450 thousand barrels per day , at the stage of full development

Read more at https://stockhouse.com/companies/bullboard?symbol=v.sei&postid=30165509#HyuhHckgtGZR5l0E.99

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