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December 2, 2021

Palagua Heavy Oil Field, Colombia

By Carmen

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, Joshi Technologies International, Ismocol de Colombia and Parko Services.


Production from Palagua

The Palagua heavy oil field recovered 55.71% of its total recoverable reserves, with peak production in 2014. The peak production was approximately 6.92 thousand bpd of crude oil and condensate. Based on economic assumptions, production will continue until the field reaches its economic limit in 2047. The field currently accounts for approximately 1% of the country’s daily output.


Remaining recoverable reserves

The field is expected to recover 28.23 Mmboe, comprised of 27.04 Mmbbl of crude oil & condensate and 7.18 bcf of natural gas reserves. Palagua heavy oil field reserves accounts 0.06% of total remaining reserves of producing heavy oil fields globally.


About Ecopetrol

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.

Methodology

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.

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