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ONGC’s overseas arm strikes oil in Colombia: Report

Oil and Natural Gas Corporation’s (ONGC) overseas arm – ONGC Videsh (OVL) has reportedly found hydrocarbon reserves in its Mariposa-1 well, which is under drilling in CPO-5 block of Colombia.

Electric Log analysis indicates the presence of around 120 ft of oil saturated net pay in the Lower Sands Unit 3 of the Une Formation. Good hydrocarbon shows of oil and gas were also encountered while drilling this section.

ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.

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