Colombia's Ecopetrol Seeks 63% Production Rise By 2020

In areas where the company has put resources for exploratory drilling, Rafael Guzman, vice president of E&P technical development, said the company now expects to add production from new fields such as Cano Sur and Acacias.

Guzman said the company was close to declaring them commercially viable, but did not offer figures on reserves at either field. He added that each could start output of oil by late 2014, producing up to 25,000 barrels per day each in 2015.

Ecopetrol's pipeline infrastructure in Colombia, including the export-oriented, 780 km (485-mile), 80,000 bpd Cano Limon line from Covenas to the Caribbean Sea, has recently been beset by increasingly frequent attacks from guerilla groups, including one last month.

According to Ecopetrol executives, the attacks remain a concern but have only reduced by 8,300 bpd the country's oil production this year on average, or around 1 percent of the total. However, that is up from 6,000 bpd in 2012.


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