Report summaryCorcel is a grouping of oil fields located in the western part of the Llanos basin that are being collectively developed as a single project. The area has a strong aquifer which yields high quantities of oil in the first few years of production. Once production peaks, the decline rate is sharp yielding high quantities of water, which create a storage and disposal problem. The Corcel Block is located in the western part of the Llanos basin, 60 kilometres to the northeast of Ecopetrol's heavy oil Apiay field. A series of separate oil fields have been found in the southwest portion of the block. As a consequence, a new exploration play has been established in the basin. There is a fault system in the block that trends from the southwest to the northeast. The Tertiary and Cretaceous sandstone reservoirs trap the hydrocarbons against the faults.
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