Gran Tierra has temporarily reduced production operations in the Putumayo basin in southern Colombia in response to a disruption to the Ecopetrol-operated Trans Andean Pipeline west of Orito on July 10, 2009.
"Ecopetrol has informed us that repairs are expected to take between one and two weeks," said Dana Coffield, President and Chief Executive Officer of Gran Tierra Energy. "We will continue producing at reduced levels utilizing trucking capacity until repairs are completed. We expect to be able to return to normal production levels immediately following the completion of repairs."
Gran Tierra Energy expects to maintain Colombian production levels at approximately 2,000 barrels of oil per day (BOPD) net after royalty utilizing existing trucking capacity during the repair period. Additional oil transportation alternatives are currently being assessed.
The suspension of production operations has had no impact on drilling operations. Drilling of Costayaco-9 will commence today.
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