The world’s deepest offshore oil well

The oil industry is preparing to break records in deepwater exploration by drilling a well in Colombia’s Caribbean waters within months. Occidental Petroleum Corp. and Ecopetrol SA aim to explore the Tayrona block off Colombia’s northern coast for oil and natural gas.

This deepwater project is crucial as it could boost Colombia’s offshore production, diversify energy sources, and increase reserves amidst declining onshore output and opposition to petroleum expansion from President Gustavo Petro.

Drilling at 3,900 meters (12,800 feet), the well, named Komodo-1, could surpass Angola’s Block 48, the current world record holder at 3,628 meters. The project is set to begin before the end of 2024, with results expected in 2025.

Advances in marine-seismic technology have made this possible, and if successful, it could position Colombia as a significant player in Latin American offshore oil exploration, attracting further investment. This year alone, over 40 wells are expected to be drilled at depths of at least 1,500 meters globally, making 2024 the busiest year for ultra-deepwater drilling in a decade.

Read more about the Komodo-1 project here.

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