GOVERNMENT OF COLOMBIA WELCOMES OIL DISCOVERY
Last Updated: 2019-01-10
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BOGOTA, Jan 10 (NNN-Prensa Latina) -- Colombian President Ivan Duque applauded the discovery of light oil in a deposit in the municipality of Cabuyaro, in the central department of Meta.

'Good news. The new well discovered is already producing more than four thousand barrels per day, 'said the president through the social network Twitter.

The discovery was reported by the Indian state company ONGC Videsh Limited in the Indico-1X exploratory well.

It is the second find in the same block, after the first in July of 2017 of a well that produces 3,200 barrels per day.

The Minister of Mines and Energy of Colombia, Maria Fernanda Suarez, also celebrated the news and stated that the revitalization of the industry will increase the country's oil reserves that are now 5.7 years.

In 2018, the national production of crude oil exceeded 863 thousand barrels per day on average.

The Meta is considered the first oil producing department in Colombia, with a participation close to 50 percent of the national production. -- NNN-PRENSA LATINA