New oil pipeline proposed to boost Colombia’s oil exports
Tue, 24 August 2010
A new 1,545 km oil pipeline, which will run from the Casanare to the port of Coveñas, has been proposed to facilitate oil exports from the Llanos region, considered one of the most prospective regions in Colombia.
The proposed Casanare – Coveñas Pipeline, also known as the Bicentennial Pipeline, will be owned and operated by newly established company Oleoducto Bicentenario de Colombia, which will initially be 100 per cent owned by Colombian energy company Ecopetrol.
The project will be constructed in three stages. The first stage includes the laying of pipe from Araguaney to Banadia as well as infrastructure upgrades at the port of Coveñas.
Stage 2 of the project will see pipe laid from Banadía to Ayacuch, while the final stage will see construction of the Ayacucho to Coveñas, The entire project is estimated to cost $US4.2 billion.
The incorporation of this new company is an important step towards achieving one of the most significant milestones in facilitating the transportation of exports resulting from the increasing production in the Llanos basin of Colombia.
Image caption:
Ecopetrol workers on an oil rig in Colombia. Image courtesy of Ecopetrol.
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