Ecopetrol finds high-potential horizon

ECOPETROL MAY have made its largest discovery ever and opened a new, high-potential horizon for exploration. The state-owned oil company's preliminary estimate is that the Gibraltar field, where the Gibraltar-1 well has revealed conclusive evidence of the presence of light hydrocarbons, could contain as much as 200m barrels of oil. The company will conduct further tests to determine the resource's size more accurately. The country has been desperate to increase its exploitable oil and gas resources to strengthen the economy and offset rapidly declining oil production at its main producing fields - Caño Limón, Cusiana and Cupiagua - which account for about half of total national production. T