Parex to join Ecopetrol in Colombian fields

Colombia

BOGOTA, April 2, 2019 – Canadian E&P company Parex Resources will enter three of NOC Ecopetrol’s fields in northeastern Colombia, international media reported on Monday.

Parex will take over operatorship of the Boranda, Aguas Blancas and De Mares fields, for which a USD 150-million, 15-well campaign has been planned.

“We have been able to sign three contracts and incorporate a first-class partner in our activities in the Medio del Magdalena Valley [Middle Magdalena Valley],” Ecopetrol’s corporate vice-president of strategy and new business, Juan Manuel Rojas, said in a statement cited by Reuters.

The companies will each take 50% stakes in the fields.

Read our latest insights on:

• Colombia

Previous

Oil up amid reports of more Iran sanctions

Next

Oil prices advance to highest levels this year