Amoco and Partners Begin Gas Deliveries From Colombian Natural Gas Field

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15 January 1998

Amoco Colombia Petroleum Company and partners-Ecopetrol, Hondo Magdalena Oil and Gas Limited, and Opon Development Company-today announced they have begun initial natural gas deliveries from their Opon Association Contract Area in the Middle Magdalena Valley some 125 miles north of Bogota, Colombia.

According to Alec Robinson, Amoco Colombia Petroleum Company's President, the initial gas deliveries from Opon represents a major milestone both for the partners and for Colombia.

"For the partners at the Opon field, these gas deliveries represent the start of our monetization of the significant natural gas reserves we discovered there. For Colombia, they represent a successful effort to provide additional natural gas supplies to the country's interior region," Robinson said.

Under the terms of the gas sales contract, Ecopetrol will purchase up to 100 million cubic feet of natural gas and associated condensate from the Opon field over the life of the Opon Association contract. It is anticipated that Ecopetrol will be taking its full volumes early in 1998.

Natural gas and condensate are being transported to Ecopetrol's El Centro gas processing facility via a recently completed 55-mile, 16-inch diameter gas pipeline. At the processing facility, liquids are removed and processed gas transported to the Barrancabermeja refinery for use there or shipped to markets accessible through the national gas pipeline system.

In addition, the Opon field partners have an interim agreement to provide natural gas to the Termo Santander power plant located adjacent to the Opon Association Contract area.
Amoco Colombia Petroleum Company, as operator, has a 30 percent interest in the commercial portion of the Opon Association contract area; Ecopetrol has a 50 percent working interest; Hondo Magdalena Oil and Gas Limited has a 15.5 percent working interest; and Opon Development Company has a 4.5 percent working interest.

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