Costayaco Field, Further Exploration and Production activities in the Putumayo Basin, Colombia

The Costayaco Field is located in the northwest portion of the Putumayo Basin, Colombia. S.A. It consists of a major thrust fault/dip closed accumulation. Costayaco Field was discovered in 2007 by Gran Tierra Energy Colombia and is currently under development. Original oil in place (OOIP) is calculated around 140 MMstb. To date, 15 wells have been drilled and 19 MMstb of oil have been produced with ESP´s and jet pump systems. All of the Cretaceous siliciclastic reservoirs contain oil; the main objectives, Caballos Fm. and Villeta T Sand, have 30° API gravity oil with a rather low GOR. The field doesn't have a primary gas cap and the oil column for the T sand and Caballos Fm. is around 215 ft each. Further development of the field in 2012 includes continuing with the current water injection in 4 wells, drilling 2 peripheral injector wells, and 2 infill producer wells. The delineation plan for the Costayaco Field is based on the interpretation and analysis of 3D seismic data (Chaza 2007, 70 Km2), core data and core description, lab measurements, and petrophysical analysis of the openhole logs. All of the above was integrated into a robust 3D static reservoir characterization model. Based upon our extensive knowledge of the basin along with the expert contribution of our team, we have reached the production plateau of 17,000 BOPD.