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Colombia's Ecopetrol and Anglo-Dutch energy giant Royal Dutch Shell have teamed up to develop three blocks in the Caribbean, the state-owned oil company said on Friday. Under the deal, Shell will acquire a 50% operating-stake in the Fuerte Sur, Purple Angel and COL-5 blocks, which are found in deep-water areas of the Colombian Caribbean. Continue... Continue Reading →
Spanish oil company Repsol has exercised a one-well option under its contract for the Maersk Drilling-owned drillship Maersk Valiant for operations offshore Mexico. However, Maersk Drilling said on Wednesday that Repsol would not make use of the second one-well option included in the original contract from June 2019 for the 2014-built Maersk Valiant. Repsol has now exercised... Continue Reading →
Investment in Colombia's oil industry is set to grow by 23% in 2020, the private oil producers association said on Monday, although production will be effectively flat, increasing just 0.5% compared with the previous year. Investment in the Andean country's oil and gas industry this year will jump to $4.97 billion, up from $4.03 billion... Continue Reading →
Geoscience company ION Geophysical has entered into a multi-client agreement with Colombia’s National Hydrocarbon Agency (ANH) granting rights to reprocess existing data and acquire new 2D and 3D multi-client programs offshore Colombia’s Caribbean coast. In February 2019, the ANH announced a series of reforms to encourage investment in exploration and production, such as a permanent... Continue Reading →
GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Peru, Argentina, Brazil, Chile and Ecuador, today announced that it has closed the previously announced acquisition of Amerisur Resources Plc. (“Amerisur”) (LON: AMER). GeoPark acquired the entire issued... Continue Reading →
U.S. oil firm Noble Energy has hired a 7th generation Maersk drillship for its drilling operation in Colombia. Maersk Drilling said Friday that Noble had awarded it a one-well contract for the Maersk Valiant drillship. The contract is set to begin in the third quarter of 2020, right after the rig's contract with Repsol in... Continue Reading →
GeoPark Limited (“GeoPark” or the “Company”) (NYSE: GPRK), a leading independent Latin American oil and gas explorer, operator and consolidator with operations and growth platforms in Colombia, Peru, Argentina, Brazil, Chile and Ecuador today announced the expansion of its portfolio in Colombia following a new successful Agencia Nacional de Hidrocarburos (“ANH”) bid round and an... Continue Reading →
Colombia is seeking an additional payout of almost $1 billion from its oil company Ecopetrol S.A. as it faces increased spending pressure amid massive anti-government demonstrations. The finance ministry called a meeting of shareholders to discuss its proposal for the company to distribute 3.7 trillion pesos ($1.1 billion) in a special dividend. Since the Colombian... Continue Reading →
Self-funded Growing Business Adds Light Oil Production, Proven Reserves, Low Breakeven Cashflow, Low Risk Development Opportunities, Significant Exploration Resources, Strategic Acreage, New Basin Entry, Carried Exploration Drilling, Cross-border Pipeline, New Partnerships, and Operating and Commercial Synergies Continue reading
Latin American states like Colombia have been important producers of oil and gas for this southern continent, the Caribbean and North American markets. Colombia’s crude oil production is primarily located onshore, in the northwest and centre of the country, close to major refined product-consuming regions. Meta Department, in central Colombia, is an important production area,... Continue Reading →
