The Llanos Basin, and in particular the Deep Llanos, located adjacent to the Andes Mountains, offers the opportunity to find and develop hydrocarbon resources in a prolific hydrocarbon basin.
Although the Llanos is a younger basin, many of the structural and stratigraphic plays are similar to those found in the Western Canadian Basin and have the same challenges for seismic processing and interpretation. By applying play concepts and interpretation techniques that have been proven in other basins and the Llanos, we are able to develop a broad portfolio of prospects. The Llanos is an aerially extensive grassland that extends eastward 500 kilometres from the Andes mountains. This physiography allows relatively easy acquisition of large high quality 3D data sets. The Llanos Basin is lightly explored with a low density of drilled wells when compared with more mature producing basins. The combination of low well density, stacked reservoir potential, and a number of different trapping possibilities presents multiple opportunities to find and develop large reserves.
The exploration blocks that Petrominerales operates in the Llanos posses high deliverability reservoirs and stacked pay potential. These reservoir qualities better position us to manage geological risk through multiple play-types, compared with the portfolio risks associated with working with just one play and one reservoir type. In the Deep Llanos Basin we control six exploration blocks totaling more than 630,000 acres, including our Corcel and Guatiquia blocks, where we have had significant success to date. The other four blocks are on trend with existing giant producing oil fields and close to sizeable discoveries.