OREANDA-NEWS. LUKOIL Overseas (fully affiliated company of LUKOIL) discovered geological reserves of oil in the amount of more than 100 million barrels at Medina structure of the Condor exploration block (Colombia).

This field is being prepared for commercial operations.  However the project has already started generating commercial benefit: about 4 thousand barrels of high-quality Colombian oil of Vasconia blend produced in the course of Condor-1 well testing were sold to North American consumers.
 
The Condor project is implemented by LUKOIL Overseas (70%) together with Ecopetrol National Oil Company (30%). The Agreement on Condor block was signed on April 7, 2002. The contract covers exploration operations at the block over a period of six years and field development over 22 years in case of a commercial discovery. Project operator is LUKOIL Overseas Colombia Ltd.