Name: CPO 9 Area
Brand: Wood Mackenzie
SKU: 3609
Price: 3720 USD
Availability: OnlineOnly
Author: Wood Mackenzie

Asset Report 30 March 2026

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Report summary

The Akacias field was brought onstream in late-2010, although it was not declared commercial until 2014. It produced under an exploration license until 2015 when the operators acquired a development license. In early 2016, the field was temporarily shut in due to the low oil price.The field is a westerly extension of and on-trend with Ecopetrol's Chichimene field. Akacias lies within the CPO-9 block. The partners have identified several additional targets, including Lorito NE and Colibri, which could ultimately yield up to 500 mmbbl of reserves. Community relations issues have slowed progress. Given the prospectivity of the block, and the proximity of these other prospects to Akacias, the block infrastructure can be expanded to accommodate new discoveries if needed.

Summary
Key Issues
- Ecopetrol declares commerciality of Lorito discovery in CPO-9
- Ecopetrol secures full ownership of strategic CPO-9 block, thwarting GeoPark's expansion plans
- Field shut in due to low oil price
- Early-stage development
- History
- Transportation
- Facilities
- Cash flow
Cash Flow