An underwater oil field in the Gulf of Mexico partly owned by Ecopetrol began production has now reached a production level of 20,000 barrels of oil equivalent per day, says the Colombian state-controlled oil giant. The two-well Gunflint field first starting producing on July 21, after a development process that included the use of “first-time techniques,” according to an executive at one of Ecopetrol’s partner companies on the project. And now, this one discovery is helping push Ecopetrol’s U.S.-based arm to new heights.
In 2013, BP sold its 31.5% stake in the field, which was discovered in 2008 about 100 miles off the coast of New Orleans, to Ecopetrol though its Ecopetrol America subsidiary. Noble Energy Inc. has another 31.5% ownership, while Mapleleaf Samson Offshore LLC and Marathon Oil Corporation hold 19.1% and 18.2%, respectively. Further development is also possible to expand production at Gunflint in the future, says the company.
With its share of the Gunflint field, Ecopetrol America’s operations in the United States now exceed 10,000 barrels of oil equivalent per day. Previously, the U.S. arm of the Colombian company was only accounting for 3,700 barrels per day.
“Ecopetrol is pleased with the success of Gunflint, which allows the company to nearly triple its production in the Gulf of Mexico, a promising area in its exploration strategy and production for the coming years,” said Juan Carlos Echeverry, president of Ecopetrol.
In other company news, Ecopetrol’s minority shareholders have nominated Juan José Echavarría Soto as an independent member of state-controlled oil company’s board of directors.