By IANS,
Bogota : In what could be its most important hydrocarbons find in 10 years, Colombia has announced the discovery of a huge oil reserve in the eastern plain region, EFE news agency reported Wednesday.
British firm Emerald discovered the the petroleum deposit in the eastern plains region which is home to a number of oil rigs and natural gas extraction plants, Energy Minister Hernan Martinez announced Tuesday.
He told Caracol Radio that the field located in Meta province, 200 km east of Bogota, could contain reserves of about 100 million barrels of heavy crude.
The minister said the deposit, located between the Castilla and Rubiales fields, could be the most important one to be found since the Caño Limon, Cusiana and Cupiagua fields, the country’s three largest oil reserves.
Martinez said the government expected to finish the first quarter of 2009 with certified crude reserves of 4 billion barrels, up from 1.4 billion.
Colombia’s current oil production stands at 600,000 barrels per day.