Colombia’s Ecopetrol has decided to become the operator of the Rubiales field following the expiration of its contract with its Canadian partner Pacific E&P, the state-controlled oil company announced in a regulatory filing Monday.

Ecopetrol to become operator of Rubiales field

BOGOTA, October 27, 2015 – Colombia’s Ecopetrol has decided to become the operator of the Rubiales field following the expiration of its contract with its Canadian partner Pacific E&P, the state-controlled oil company announced in a regulatory filing Monday.

Earlier this year, Ecopetrol had stated it would allow the contract with Pacific E&P to expire at the end of June 2016. While Ecopetrol will take over as operator, the two companies will continue to collaborate on operation optimisation and infrastructure development in Llanos Orientales.

Discovered in 1981, the Rubiales oilfield is located in the Meta province and is the largest in Colombia. With the oilfield’s total proven reserves of 4.38 billion barrels of oil, Pacific E&P was able to boost production to around 233,000 barrels of oil per day using enhanced oil recovery techniques.

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