Canakol: On the radar for country ‘fracking’ missions | Business

A new hydrocarbon company is starting to appear on the radar for fracturing tasks to develop unconventional (YNC) deposits in the national territory.

(Read: There are delays in major projects in the energy sector)
This is the Canadian multinational Canacol, which in recent days announced the first exploratory results of an independent future evaluation of shale oil in its two masses (VMM-2 and VMM-3), in the Central Valley Basin. Magdalena.

(Read: Companies doing ‘hydraulic fracturing’ will pay 100% of royalties)

The tasks are developed by Boury Global Energy Consultants Ltd. (BGEC) that Canacol has contracted to carry out exploration missions, specifically the La Luna and Tablazo formations, and it is one of the main areas identified to develop hydraulic fracturing pilots in Colombia.

“BGEC’s independent evaluation of potential unconventional resources underlines the relative importance and great potential of the company’s unconventional shale oil groups. More on prostate resources in the Middle Magdalena Valley Basin,” said Charles Gamba, President and CEO of Canacol.

Thus, the Canadian multinational company joins the oil companies Ecopetrol, Exxon Mobil, Drummond Energy, Tecpetrol, Chevron and ConocoPhillips, which have already shown interest in developing YNC through so-called hydraulic fracturing.

Mission and discovery

The first indications of potential deposits of shale oil and natural gas were identified by Canakol technicians less than a decade ago.
In the case of the VMM-2 block, whose development partner is ExxonMobil, the drilling of the Mono Araña-1 well between 2012 and 2013 confirmed the shale oil reservoirs in the La Luna Formation.

On the other hand, in the VMM-3 block, working with ConocoPhillips, the Picoplata-1 well was drilled in a joint mission with Shell, and hydrocarbon traces were also found in the shale, as well as in the La Luna formation.

Thus, Canacol and its partner, ConocoPhillips Colombia, continue to evaluate the technical data collected from this well to plot the next steps towards the evaluation of La Luna in both blocks.

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“The company has consistently worked with its partners over the past 10 years to identify and eliminate risks and assess the potential of unconventional shale oil throughout its location in the central Magdalena Valley Basin,” said Marc Terre, Senior Vice President of Exploration at Canacol. .

He added that after the initial regional work to determine the potential of unconventional shale oil to form Cretaceous Luna, an important land site of three blocks (Santa Isabel, VMM-2 and VMM-3) had been seized, “Canacol moved quickly to secure partners such as ConocoPhillips Colombia, ExxonMobil and Shell to eliminate potential risks from these resources in the three groups. “

For Charles Gamba, unconventional oil and gas extraction is a unique opportunity for Colombia, as it would allow Colombia to guarantee the country’s energy security, according to the Colombian Petroleum Association (ACP), between 8 and 22 years of oil reserves and an additional 35 to 50 years of gas reserves. Natural.

This would ensure affordable access to energy for all citizens and very important and stable tax revenue for the government, which would boost economic growth. It is important to note that unconventional hydrocarbon exploitation techniques, such as hydrocarbon cracking, have been used in an environmentally safe manner for decades around the world, and that they are being implemented correctly, ”Gamba said.

Aileen Morales

"Beer nerd. Food fanatic. Alcohol scholar. Tv practitioner. Writer. Troublemaker. Falls down a lot."

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