After reaching an agreement that establishes the general terms of the negotiation for a new collective bargaining agreement, representatives from the USO and Ecopetrol (NYSE:EC) started talks in Bogotá on Monday, July 14.
Ecopetrol’s (NYSE:EC) board of directors has delayed a meeting to review a technical report on Pacific Rubiales (TSX:PRE) STAR secondary recovery technology to this week, and the Minister of Mines and Energy Amylkar Acosta has promised a decision this month.
The National Hydrocarbons Agency (ANH) has revealed that as of last Friday (July 4) 39 firms have presented all the required documents to participate in the Colombia Round 2014, still below the anticipated 50.
The Minister of Mines and Energy Amylkar Acosta says that Pacific Rubiales (TSX:PRE) is not interested in an extension of the association contract for its flagship field Rubiales, offering instead to install its STAR secondary recovery technology.
Recent surveys have found a substantial increase in optimism in Colombians towards the progress of the country. While some of this could be the fabled “World Cup Euphoria” the peace process was listed as a prime motivator for a better outlook.
Ecopetrol (NYSE:EC) wants to install a station that would allow it to pump naphtha or fuels through a seven kilometer pipeline that is buried two meters below the surface in Santander, but environmentalists have organized to oppose the project on the grounds it could affect the local water sources.
The Colombian government puts high hopes on offshore blocks for the 2014 Round of auctions. But today companies which won offshore blocks in previous round are ‘out-shooting’ those companies with onshore blocks.
After the recent pipeline attacks and simultaneous lowering of the government’s production target to 981mbd, MinMinas Amylkar Acosta and Colombian Petroleum Association (ACP) head Alejandro Martínez separately did the rounds of the national press. Both provided some interesting statistics and perspectives.
Over the past few weeks, the focus of environmental criticism has shifted from the oil companies themselves to the impact of crude spills from guerrilla attacks on infrastructure. But E&P companies are not completely off the hook.
Multiple projects for new hydrocarbons ports are planned for Cartagena and Buenaventura. The Buenaventura projects are additional to the plans that the Pacific Pipeline has for connecting the Llanos to Asia Pacific markets.
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