Ocensa Oil Pipeline

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Contents

Route

The Ocensa pipeline starts onshore at the Cusiana and Cupiagua fields and stretches for 829km to the [Covenas Terminal] on the Caribbean coast.[1]

According to the Oil and Gas Journal Ocensa is the most strategic pipeline for Llanos basin production, as it is the lowest cost transportation alternative to international markets.[2]

Capacity

As of mid-2011, the Ocensa pipeline was carrying 560,000 barrels per day (bpd) of oil from the Llanos basin, representing 60% of the country’s total oil production.[2]

Ownership

In 2003 the ownership structure of the pipeline was the following: Ecopetrol (35.29%), BP 24.8%*, TOTAL Pipeline Colombia (15.2%), Enbridge (24.71%).[3] However since this time there have been several changes in the ownership structure.

In March 2009 Ecopetrol announced that it had agreed to buy up the shares of Enbridge Inc. in the Ocensa pipeline for $417.8 million. This increased Ecopetrol's share in the venture from 35.3% to 60%.[1] In July 2011 oil company Petrominerales announced their acquisition of a 5% interest in the Ocensa pipeline, bought from Total E&P Holdings $281 million.[4]

In early 2010 Canadian oil firm Pacific Rubiales signed a deal to pay $190 million for use of the Ocensa pipeline. This awarded the company preferential rights to transport 160 million barrels of oil for a 10-year period.[5]

References

  1. 1.0 1.1 Ecopetrol Increases Shares in Colombia's Ocensa Pipeline" RigZone, 16 March 2009.
  2. 2.0 2.1 Total sells stake in Ocensa pipeline to Petrominerales" Oil and Gas Journal, 21 July 2011.
  3. BP And Amerada Hess Agree Swap" BP, 30 January 2003.
  4. Petrominerales Announces Closing of Strategic Acquisition of Interest in Colombia's Ocensa Pipeline" Reuters, 20 July 2011.
  5. Pacific Rubiales signs deal to use Ocensa's pipeline" Reuters, 7 January 2010.
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