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Petroleum

BP Amoco Delays Colombia's Pauto and Florena Fields by Several Months

Strategic Insights

— 1 min read

BP Amoco's development program for Colombia's Pauto and Florena fields, part of the Piedemonte Block, has hit a delay. The fields, initially expected to come on stream in the late first quarter of 2000, are now scheduled to begin production late in the first quarter of 2001. This adjustment pushes back the timeline by several months, as the company evaluates the ongoing development program. The delay does not impact the estimated initial production rates, which are still to be determined.

Key Takeaways:

  • BP Amoco has delayed the onstream date for the Pauto and Florena fields by several months, pushing it back to late 2001.
  • The two fields are estimated to hold 70 million barrels of crude and 400 billion cubic feet of natural gas, according to Ecopetrol.
  • The Volcanera field, located in the adjacent Recetor Block, will be brought on stream after Pauto and Florena.
  • Production at the Cusiana-Cupiagua fields, operated by BP Amoco, averaged 434,000 barrels per day in 1999 and is currently estimated at 410,000 b/d.
  • BP Amoco's contract to operate the fields expires in 2017, marking the end of their third and final contract.
  • The company will not participate in Ecopetrol's upcoming exploration tender, content with its existing Colombian portfolio.

Statistics:

  • 70 million barrels: estimated recoverable crude reserves in the Pauto and Florena fields.
  • 400 billion cubic feet: estimated recoverable natural gas reserves in the Pauto and Florena fields.
  • 434,000 barrels per day: average production at the Cusiana-Cupiagua fields in 1999.
  • 410,000 b/d: most recent estimate of Cusiana-Cupiagua production.
  • 2017: expiration date of BP Amoco's contract to operate the fields.

Sources:

  • "BP Amoco Delays Colombia's Pauto and Florena Fields by Several Months," Cite at will but include BP Amoco spokesman's quote.
  • Ecopetrol, "Pauto and Florena Fields: Recoverable Reserves Estimated at 70 Million Barrels of Crude and 400 Billion Cubic Feet of Natural Gas." Cite at will but include source as EC Sept 1998.

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