La Palma Field, in the southwest corner of Maracaibo Basin (Zulia State, Venezuela) approximately 300 km south of the city of Maracaibo, is in a license block called Col-n Unit (Figure 1). The field is operated by Tecpetrol (Argentina), which leads a consortium of three oil companies that also includes CMS Oil & Gas (U.S.) and Coparex (France).

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La Palma was discovered in June 1999, when exploration well LPT-1X penetrated oil-bearing reservoirs within Mirador Formation (Eocene) at 8687 ft subsea. The initial production rate (of 2000 b/d of light oil) encouraged Tecpetrol to drill the LPT-2 step-out well,...

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