"The gas comes from our operations in Colombia. We have a large field, one that provides 80% of all the gas used in Colombia domestically. We have spare capacity because we are drilling three new wells right now in that field," he said.
The field, known as Campo Ballenas, is producing some 450 million cubic feet a day (Mf3/d) and with the planned expansion will be able to export an initial 160Mf3/d to Venezuela, Moshiri said.
The pipeline could operate for longer than initially estimated, he said.
"It has been said four years, although the capacity is there to go for seven years," Moshiri said. "The capacity will be there, it will depend on requirements from the Venezuelan side. Our company is in a very good position to satisfy Latin America's natural gas needs. We have Ballenas in Colombia, Deltana [in Venezuela] and now a block in the Golfo de Venezuela."
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