Palagua is a producing heavy oil field located onshore Colombia and is operated by Ecopetrol. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, the field is located in block Palagua. Buy the profile here.
Field participation details
The field is owned by Ecopetrol, Ismocol de Colombia, Joshi Technologies International and Parko Services.
Production from Palagua
The Palagua heavy oil field recovered 48.98% of its total recoverable reserves, with peak production expected in 2023. The peak production was approximately 8.50 thousand bpd of crude oil and condensate and 3.00 Mmcfd of natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2055. The field currently accounts for approximately 1% of the country’s daily output.
Remaining recoverable reserves
The field is expected to recover 42.61 Mmboe, comprised of 40.32 Mmbbl of crude oil & condensate and 13.79 bcf of natural gas reserves. Palagua heavy oil field reserves accounts 0.10% of total remaining reserves of producing heavy oil fields globally.
Ecopetrol SA (Ecopetrol) is an integrated oil and gas company. It carries out exploration, development and production of oil and gas. It is also involved in refining of crude oil to produce petroleum products, besides transportation services. The company owns and operates refineries that produce a wide range of products including gasoline, diesel, kerosene, liquefied petroleum gas, and petrochemicals, including paraffin waxes, lube base oils, aromatics, asphalts, among others. It transports crude oil, motor fuels, fuel oil and other refined products including diesel and biofuels. The company has operational presence in Colombia, Peru, Brazil, Panama and the US Gulf Coast. It is majority owned by the Republic of Colombia. Ecopetrol is headquartered in Bogota, Colombia.
For more details on the Palagua Heavy Oil Field, buy the profile here.