Palagua is a producing heavy oil field located onshore Colombia and is operated by Ecopetrol. The field is located in block Palagua.
Field participation details
The field is owned by Ecopetrol, Parko Services, Ismocol de Colombia and Joshi Technologies International.
Production from Palagua
The Palagua heavy oil field recovered 54.97% of its total recoverable reserves, with peak production expected in 2022. The peak production was approximately 6.68 thousand bpd of crude oil and condensate and 2 Mmcfd of natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2048. The field currently accounts for approximately 1% of the country’s daily output.
Remaining recoverable reserves
The field is expected to recover 31.15 Mmboe, comprised of 29.61 Mmbbl of crude oil & condensate and 9.27 bcf of natural gas reserves. Palagua heavy oil field reserves accounts 0.07% 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, and 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.
Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.