RIL starts offshore exploration in Colombia

New Delhi: Reliance Industries, which has started exploration activities in its offshore blocks in Colombia, is expected to drill its first well in 2010. This was stated by the Director General of Colombia’s ANH (Agencia Nacional De Hidrocarburos), Mr Armando Zamora.

“We are in continuous conversation with RIL. At the moment, they are carrying out 3-D seismic studies in the blocks and will start drilling in two years,” the ANH Director General said. He is part of the visiting Colombian delegation headed by the Energy and Mines Minister, Mr Hernan Martinez Torres.

RIL had signed contracts with ANH for exploration and production of two offshore blocks Borojo North and Borojo South in the Pacific Ocean. RIL plans to invest $50 million in the two blocks over a six-year exploration period.

He said, “Prospects of both the blocks are very encouraging with mostly natural gas.” Mr Zamora said data collected by the Norwegian company, which had been previously awarded the blocks on nomination basis, showed nine prospective structures.

As regards the forthcoming licensing rounds in Colombia, he said the country plans to offer 145 blocks for exploration and production in November. “We will be offering 43 blocks under the Colombian round in the first week of November and 102 blocks under mini round end of November,” he said.