Ecopetrol to Offer 14 Small-Scale Fields

Colombia's state oil company Ecopetrol will offer contracts to reactivate 14 small-sized oil fields to local companies in a process due to start in the next few weeks, government news service SNE reported.

The fields will probably be offered in an auction through which properly registered and pre-qualified companies would bid production percentages to Ecopetrol, the company's operations director Mauricio Salgar told BNamericas.

The exact dates and process for the sale will be announced when the bidding rules are released, he added.

Seven of the fields - Playón, Toca, Quebrada Roja, Caño María, Bravo, Berlín and Mojada - are in the middle Magdalena basin, and have not been developed since discovery. The other seven - Orú and Campo Yuca (Catatumbo basin), Arjona (lower Magdalena), Mugrosa, Yanacué and Escocia (middle Magdalena) and Hato Nuevo (upper Magdalena) - have previously been developed but are currently inactive.

All are too small for Ecopetrol itself to work on, but they offer a business opportunity to small- and medium-sized local companies. A data room has been open for some time now and a number of companies have visited, Salgar said.

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