Ecopetrol Takes Over Andalucia Field Ops
Colombia's state oil company Ecopetrol has taken over operations of the Andalucia field in Huila department from local firm Petrocol following the expiration of the latter's contract.
Andalucia produces an average of 225b/d of API grade 32 crude, Ecopetrol said in a statement.
The contract was signed March 15, 1979, and to date has produced 11Mb of the 12Mb initially estimated.
This is the first public-private association contract to have concluded as other contracts have been extended, an Ecopetrol spokesperson told BNamericas.
Ecopetrol has no immediate plans to find a new partner for the field, said the spokesperson, adding technicians now will begin studies to see how much Andalucia's output could be increased.
These studies are due to be completed in coming months.
Since Ecopetrol's reform in 2003, when national hydrocarbons regulator ANH took over awarding E&P contracts, it is no longer an obligation for private companies to partner with Ecopetrol.
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