Peru Will Likely Create Pacific Ocean Reserve in 2019
year.The proposed area includes feeding and breeding grounds for turtles, humpback whales, seals, seahorses and commercial fish species, according to the document.The companies that have exploration or drilling rights inside the borders of the proposed reserve include Savia Peru - a joint venture of Ecopetrol and Korea National Oil Corp - BPZ Exploracion & Produccion, Karoon Gas Australia Ltd and China National Petroleum Corporation.(Reporting by Mitra Taj; editing by Jonathan Oatis
Mexico Auctions Two-thirds of Blocks in Shallow Water Oil Tender
Mexico on Monday auctioned two-thirds of the shallow water oil and gas blocks up for grabs in the latest round of its energy market opening, surpassing the cautious estimates of officials last week. Italy's Eni, Colombia's Ecopetrol and Capricorn Energy, a unit of Edinburgh-based Cairn Energy , were among the companies at the forefront of the bidding for 15 blocks in the southern Gulf of Mexico. Ten of the 15 blocks were taken up in the auction. Eni took one of the blocks by itself and two in consortium with other companies. One comprised Capricorn and Mexican oil firm Citla
BOEM Awards Leases in Western Gulf of Mexico
33 tracts receiving bids covering 190,000 acres to successful high bidders who participated in the sale, which made 4,083 unleased blocks covering nearly 22 million acres available offshore Texas. The accepted high bids are valued at $22,675,212. The highest bid accepted was $2,802,003, submitted by Ecopetrol America for East Breaks Block 685. BHP Billiton Petroleum placed 26 of the 33 bids, all in deep water. Two bids were for tracts in water depths less than 200m, while the remaining bids were placed on tracts in water depths greater than 400m. The terms of Sale 246 continue
Ecopetrol, JX Nippon Team Up to Explore Brazil Offshore
Ecopetrol reports it has established an Alliance with Japan’s JX Nippon Oil & Gas Exploration through its affiliate in Brazil, Ecopetrol Óleo e Gás to explore the FZA-M-320 block, located in shallow waters of the Foz Amazonas basin on the equatorial margin of the Brazilian Amazon region. Ecopetrol has held the exclusive rights for this block since May 2013, which was awarded during the 11th Round carried out by the ANP, the National Petroleum Natural Gas and Biofuels Agency in Brazil. The commercial agreement announced today, yet to be approved by the ANP,
Record Low Interest in US GoM Leases
have stalled as companies reassess their yearly budgets. In Wednesday's sale, five companies submitted 33 bids on 33 tracts covering 190,080 acres (76,923 hectares) in the western region, BOEM said. Australia's BHP Billiton was the most active with 26 bids. BP made one bid, Colombia's Ecopetrol made four, three of which were made jointly with Anadarko Petroleum, and Houston-based Peregrine Oil and Gas made two. Last year saw 93 bids on 81 tracts totaling $110 million in high bids. In 2012, when oil prices fluctuated between $100 and $80 a barrel, there were 131 bids on 116 tracts
Ecopetrol Finds Hydrocarbons in Deep Caribbean Waters
Colombia's state oil company Ecopetrol reported late on Tuesday the presence of hydrocarbons at its Kronos-1 well in ultra-deep waters of the Caribbean Sea. The discovery was made at a depth of 3,720 meters (12,200 feet) at the well in the Fuerte Sur block, about 53 km (33 miles) offshore, Ecopetrol said in a filing with the financial regulator. Colombia, Latin America's fourth biggest oil producer, is struggling to increase output to make up for revenue lost by the decline in global oil prices. Ecopetrol jointly owns the Kronos-1 with Texas-based Anadarko. Colombia
Ecopetrol to Drill 3 Wells After Cutting Budget
Colombia's state-run oil producer Ecopetrol will drill three offshore wells this year, two off its Caribbean Coast and a third in the Gulf of Mexico, after slashing its offshore exploration budget to $200 million down from $632 million last year, the company said. The two Caribbean wells, Calasu and Kronos, will be operated by Texas-based Anadarko Petroleum Corp which has an equal sized stake in the projects with Ecopetrol. The U.S. well, Sea Eagle, will be drilled by partner Murphy Oil Corp. In 2014, Ecopetrol discovered hydrocarbons in three out of eight wells it drilled, five of which
Petrobras Makes Discovery in Colombian Caribbean Waters
exploratory well (Tayrona Block) has revealed a natural gas accumulation in Colombian Caribbean deep waters, 40 km off the coast of La Guajira. This is the first discovery in the history of the deep water exploration of this region of the Caribbean. Petrobras is the operator (40%), in partnership with Ecopetrol (30%), and Repsol (30%). Well drilling ended in September, reaching 4,240 meters. The water depth is 674 meters. The natural gas accumulation was confirmed at 3,600 meters. Petrobras will continue operations as planned in order to assess the discovery. Operations in the Colombian Caribbean Petr
Statoil Farms into Acreage Offshore Colombia
Maden, senior vice president for Statoil's exploration activities in the Western Hemisphere. Petrobras operates the Tayrona licence (40%), which includes the on-going Orca-1 exploration well. Repsol retains a 20% of the licence after farming down 10% to Statoil. The remaining 30% is held by Ecopetrol. The licence covers an area of 16,500 square kilometres and is located in water depths of 50 to 1,500 metres. Repsol operates the Guajira Offshore 1 (GUA OFF-1) licence and retains a 30% after farming down 20% to Statoil. The remaining 50% is held by Ecopetrol. The licence covers an area of
February 2024
