Ecopetrol sets record oil production

Colombian state-owned Ecopetrol has reported record production numbers at its oilfields. In a recent statement, the state oil and gas company stated that its Pauto and Florena oilfields reached 41,488 barrels of oil per day in June compared to a previous average of 18,000 barrels of oil per day.

The company has been able to reach these record numbers due to the progress seen in the second phase of its Piedemonte project, which involved drilling 11 new wells. Since the onset of the project in 2012, Ecopetrol has increased production by 11 million barrels of oil per day in 2014.

The company estimates that the high pressure turbine planned as part of the second phase to be completed in the second half of 2015 will increase gas handling capacity to 15 mcm (530 mcf).

The Pauto and Florena oilfields were part of five oilfields part of Equion joint venture’s $1.9-billion acquisition of BP’s exploration, production and transport business in Colombia. Ecopetrol partnered with Canadian exploration and production company Talisman Energy in the Equion joint venture.

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