The Llanos Basin is situated in East-Central Colombia and is one of the country’s most prospective basins. Targeted reserve sizes in the central Casanare area of the Llanos Basin are in the range of the 1 MMbbls to 954 MMbbls recoverable according to the December 2009 Monthly Statistical Bulletin of ACIPET. Management has a good understanding of the petroleum geology in the Llanos Basin where oil fields have strong water drive and individual wells can produce between 0.3 MMbbls and 1.5 MMbbls of oil per well.
Currently the Corporation participates in four blocks in the central Casanare area of the Llanos Basin: The Cravoviejo block, the Cachicamo block, the Pájaro Pinto block, and the Llanos 19 block.
The Corporation was one of the first to apply a strategy of drilling directional wells, that parallel to the fault planes (main trapping mechanism) with the purpose of targeting multiple objectives with one well in the Llanos Basin. This approach combined with 3D seismic has resulted in a commercial exploration success rate for C&C of greater than 75% in the Llanos Basin.