Canadian firm makes new oil discovery in Colombia

Bogota, March 10 : Canadian-owned Pacific Rubiales has made a new oil discovery at an exploration well located in Colombia's Llanos Orientales region, a media report said.

The results are promising and bode well for the field's future, Pacific Rubiales CEO Ronald Pantin said.

"The exploration campaign continues to produce valuable information that will allow us to understand the region's geological complexity," Pantin told the business daily Portafolio.

"With these discoveries, the company has ensured the extension of the exploratory phase for an additional two years in the northern area of Quifa."

The Canadian company produces gas and heavy crude, primarily in Colombia's Llanos Orientales and in northern Peru.