Chinese oil services firm Kerui says that it is looking to partner with Colombian firms, using an offer of the latest technology and cost savings to build its client base in South America. The firm already operates in Argentina and Venezuela, and says it has US$1B to finance projects locally.
The Chinese/Indian owned operator Mansarovar let another bit of light shine into its operation in Colombia, and said that it expects strong growth with projections to see its production grow to 131,000bd by 2020, with an emphasis on technology and secondary recovery.
Ecopetrol (NYSE:EC) has finally made a decision on the future of the Rubiales field, and says that it will directly operate the field once its association contract with Pacific E&P (TSX:PRE) ends in June of next year.
President Juan Manuel Santos was on hand to receive the first shipment of crude destined for the modernized Cartagena Refinery (Reficar), with full capacity expected for the first half of next year.
A bit of spin is to be expected when government officials address strategic projects, but Minister of Finance Mauricio Cárdenas took it to a surprising level and asserted that the Cartagena Refinery really did not have overruns, rather its high cost was the fault of Glencore’s poor estimations in 2006.
Coal miner Drummond says that it could receive its environmental license “at any moment” to start production of Coal Bed Methane (CBM) in La Guajira, where a concession dispute with the coal miner of the same block, Cerrejón had kept the project from moving forward.
Ecopetrol invests in improving educational infrastructure in Casanare, meanwhile the firm also promises the construction of a college campus in Granada. These and other stories on Corporate Social Responsibility (CSR) in our periodic summary.
Ecopetrol (NYSE:EC) president Juan Carlos Echeverry believes the main challenge of Colombia’s oil industry is to attract and maintain investment. And he stuck to the government’s game plan: that the best way to do this is through achieving peace, not lowering taxes on companies.
Ecopetrol (NYSE:EC) has been emphasizing its opportunities outside of Colombia and the president of its Brazilian unit, Joao Guilherme Clark said just ahead of the block auction last week it was interested in growing its participation in E&P blocks, but in the end made no bid to do so.
Ecopetrol (NYSE:EC) has confirmed that it has fired up its industrial services units at the Cartagena Refinery (Reficar), another step towards a full operational launch of the long-delayed project.
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