Canadian oil and gas producer Pacific
Rubiales Energy Corp said its Rubiales oil pipeline in
Colombia is 99.75 percent complete and line filling will begin
in the first half of August.
The pipeline, which has been under construction since late
2008, has an initial capacity of 170,000 barrels of blended
Rubiales heavy oil per day (bpd) and can be upgraded to 260,000
bpd by adding booster pump stations, the company said.
Pacific Rubiales said the pipeline, which links the
Rubiales field with the Monterrey station, will be operated by
Oleoducto de los Llanos Orientales S.A., a joint venture formed
by the company and Ecopetrol S.A., the Colombian national oil
company
The project will allow both companies to “substantially
reduce the transportation costs for Rubiales crude to the
export port of Covenas,” Pacific Rubiales said in a statement.
Pacific Rubiales shares closed at C$10.94 Tuesday on the
Toronto Stock Exchange. (Reuters)
