(Energy Analytics Institute, 18.Jan.2024) — Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) said that in order to determine the materiality of the Arauca 8 well discovery, it would be necessary to complete the analysis and evaluation tests of said well.
The Arauca 8 well is located in the Municipality of Saravena in the Department of Arauca, Colombia where Ecopetrol and Parex Resources Inc. work together through a Business Collaboration Agreement, the Bogota-based state-owned company announced 18 Jan. 2024 in an official statement.
“Therefore, once a comprehensive study of the production potential of this well is completed, the discovery will be formally notified to the National Hydrocarbons Agency (ANH), within the deadlines and subject to the contractual requirements of the Arauca agreement executed by Ecopetrol,” the energy giant said.
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By Piero Stewart. © Energy Analytics Institute (EAI). All Rights Reserved.
