Ecopetrol launches its round fields 2020 today
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Ecopetrol launches its round fields 2020 today
Sep 23, 2020
- There are 9 production assets: 3 are located in the basin of the Middle Valley of Magdalena (Tenerife, San Luis and Lebrija), 3 in the Upper Valley (Toy, Totare and Andalusia) and 3 in the basin of Los Llanos (Upía, La Punta and Rancho Hermoso).
- The asset portfolio of this round offers the possibility to incorporate production and reserves early, as well as options in primary and secondary development. In addition, some of the assets have exploratory opportunities.
- This asset divestment process is part of the portfolio turnover activities and is aligned with the premises of the Ecopetrol Group's strategy: strict capital discipline, fund protection, cost efficiency and profitable growth.
- The auction will be held in the fourth quarter of the year with companies that register and meet the accreditation requirements.
Starting today, the Campos Ecopetrol 2020 round begins in which the Ecopetrol Group will offer its entire stake in nine development and production assets.
Representatives of national and international companies wishing to consolidate their position in Colombia or who want to expand their operations in the country may participate in this process.
This asset portfolio offers the possibility of incorporating more than 3,000 barrels of oil and gas per day and an estimated volume of 17 million barrels of oil equivalent (mbpe) of 3P reserves, of which 11 mbpe are proven reserves. In addition, the assets have contingent resource development opportunities estimated at 13 mbpe and exploratory potential calculated at 35 mbpe of prospective resources.
The process will be carried out through an electronic auction, with the upward bid methodology, where companies that meet the current accreditation requirements of the ANH for this type of assets can participate. According to the planned schedule, this auction will take place in the last quarter of this year.
“This round will allow other companies in the sector to access assets with potential for production development and reserves, whose investments will generate more employment and contribute to the revival of the sector and the economy of the regions and the country. That is why we invite the industry in general to participate actively in this process,” said the president of Ecopetrol, Felipe Bayón Pardo.
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