Ecopetrol and Occidental reach an agreement on Autonomy of Cano Limon-Covenas Pipeline

abarrelfullabarrelfull wrote on 11 May 2012 11:15

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March 4, 2011

Ecopetrol S.A. and Occidental de Colombia have reached an agreement giving Ecopetrol control of the Cano Limon-Covenas oil pipeline. The conditions in the association contract pertaining to the field remain unchanged.

The operation will grant Ecopetrol access to the pipeline´s surplus capacity, once transport requirements for Cano Limon crude have been met, allowing for the transportation of the highest crude production from the Eastern Plains (Llanos Orientales).

The transaction was submitted for the approval of the National Hydrocarbons Agency because it modifies the conditions stipulated in the association contract for operating the oil pipeline.

The operation is in line with other projects Ecopetrol has undertaken to increase crude transportation in order to meet Colombia´s growing oil production.

The Cano Limon-Covenas Oil Pipeline, the second in length in the country, is approximately 771 kilometers long and has a maximum capacity of 220 thousand barrels per day. It is the pipeline by which crude oil from Cano Limon field in the province of Arauca is transported to the Covenas maritime and tanker terminal in the province of Sucre.

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