As reported by La República, Ecopetrol estimates that by the end of 2012 it will have invested CoP$951,000M at its refinery in Barrancabermeja (Santander). The investment has been earmarked for equipment replacement, maintenance and inspections. Thus Ecopetrol has ensured the operation of turbo generators, power lines, substations, boilers and other major operating systems within the refinery.
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.
Colombian oil company – Mansarovar – a joint venture between Chinese state-owned company Sinopec and Indian NOC ONGC Videsh – announces it has received permission from partner Ecopetrol to develop Abarco Phase II, Under River Fase III and Moriche Phase III.
The Interbolsa drama deepened yesterday with news that it was virtually certain to be liquidated. Existing shareholders in the brokerage firm are likewise virtually certain to have their investments wiped out. The surprising news was that oil company Mansarovar is listed in various press reports as the brokerage’s largest single shareholder.
GranTierra reports high quarter-over-quarter and year-over-year growth in Colombian production for 3Q12 despite problems with the TransAndino pipeline. These pipeline interruptions raised operating expense and so unfortunately higher revenue did not translate into higher profits. The company’s press release also gave an extensive update on its exploration activities in Colombia including plans for the blocks it has been (provisionally) awarded in the 2012 Round of auctions.
In the context of the Colombian Association of Petroleum Services Companies, Campetrol’s Expo Oil and Gas, various association officials spoke to the Colombian press. Campetrol has worked with economic think tank, Fedesarrollo to characterize the sector and provide a view into its potential.
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