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Eye on Ecopetrol

Equion finds gas off Cartagena in Colombia’s Caribbean Sea

Equion – a joint venture between Ecopetrol and Talisman – reports the presence of dry gas in the Mapale-1 well. From an Ecopetrol Press Release in English with commentary by Hydrocarbons Colombia.

Wednesday, November 7th, 2012
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Ecopetrol reports 3Q12 profits down 22.6% over 2011 — flat revenues, higher maintenance

Ecopetrol reports 3Q12 profits down 22.6% over 2011 — flat revenues, higher maintenance

The company reported net profit between July and September reached CoP$3.24T (US$1.8B), which meant a decrease of 22.6% compared with the same period in 2011. Ecopetrol said that operating revenue increased one percent from the same period of 2011 while cost of sales increased 20.3%, due to maintenance costs of CoP$147,000M to ensure the integrity of transport infrastructure and wells, as well as the maintenance of Barrancabermeja refinery.

Tuesday, October 30th, 2012
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Ecopetrol and Chevron announce maintenance at Chuchupa field in La Guajira

Ecopetrol and Chevron will upgrade the compression facilities at the Chuchupa field to increase its daily gas production. For this, the field will be off-line from October 30th to November 3rd. More maintenance will take place at the end of the month. From an Ecopetrol press release, translated and with commentary by Hydrocarbons Colombia.

Tuesday, October 23rd, 2012
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Auditor General warns Ecopetrol about complex international structures

The Colombian Auditor General issued a warning about risks associated with Ecopetrol’s sometimes complex interational structures. Like any large firm, Ecopetrol uses a variety of offshore vehicles to structure its operations.

Saturday, September 22nd, 2012
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