Colombian Caribbean News

The Petrobras Orca–1 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. Petrobras, in partnership with Ecopetrol, pioneered exploration in the Tayrona Block when the first exploration concession was granted by Colombia’s National Hydrocarbons Agency (ANH) in 2004…

In order to tap into Colombian stranded gas reserves, Pacific Rubiales Energy Corporation and EXMAR nv have partnered in a project to build and operate a floating LNG liquefaction, and storage unit, the Caribbean FLNG, which will be stationed at a jetty several kilometers off the Caribbean coast of Colombia for at least 15 years. In order to protect the hull of the Caribbean FLNG, keep it clean and facilitate class inspections over that time period without recourse to drydock and without causing harm to the local marine environment…

Almarin, a Spanish manufacturer of AtoN, has completed the design and turn‐key supply of aids to navigation for Puerto Brisa (La Guajira, Colombia). The company provided 14 buoys: twelve lateral marks, one safe water and one special mark. All buoys, from its ‘Guía’ range, were provided with self contained lights equipped with satellite monitoring. The G2200T model was used for the channel dredged at 17m and the G2400T was selected for its additional volume in the open water marks.

Pacific Rubiales Energy Corp., acting through its wholly-owned subsidiary Pacific Stratus Energy Colombia Corp. (“PSE”), announced the signing of a natural gas/ LNG Liquefaction, Regasification, Storage and Loading Services Agreement with Belgium based EXMAR NV (“EXMAR”). The Agreement calls for EXMAR to build, operate and maintain a Floating Liquefaction Regasification & Storage Unit (“FLRSU”), to be located on the Colombian Caribbean coast. The Agreement grants PSE exclusive guaranteed rights to supply and liquefy up to 69.5 MMscf/d (+/- 0.5 million tons of LNG per annum) over a 15 year period, under a tolling structure. The FLRSU will have a storage capacity of 14,000 m3 of LNG and will be able to accommodate alongside a 140,000 m3 LNG Floating Storage Unit (“FSU”).

“A.R.C. 20 de Julio”, joins the National Navy fleet. • 300 direct work posts and 1500 indirect work posts generated by Cotecmar through the construction of this vessel. A new milestone has been accomplished this week in Colombia’s corporate history. The delivery of the “A.R.C. 20 de Julio” vessel by Cotecmar to the Colombian Navy consolidates the reemergence of an industry that, until recently, was not too widely known in our country. It is the shipyard industry, which, by means of its endeavors in terms of scientific and technological development…

The Colombian government Tuesday granted exploration and production rights on nine offshore areas on the Caribbean coast to five different companies in an effort to boost the country's oil reserves. In Tuesday's auction, Colombian state-owned oil company Ecopetrol SA, India's state-run oil company Oil and Natural Gas Corp. (500312.BY), Brazil's Petroleo Brasileiro SA (PBR), U.K.-based BP PlC (BP) and Hess Corp. (HES) won the rights separately or in partnership to explore the nine blocks. Four blocks didn't attract bidders. The Colombian government is trying to attract oil companies to the country to boost oil reserves and output in a bid to remain oil self-sufficient. If current consumption and production trends continue, the country will become a net oil importer in 2014.