Ecopetrol SA’s board of directors determined that it would take over Rubiales Field operations after the Rubiales risk participation and Piriri joint venture (JV) contracts are concluded on June 30, 2016, the Colombian company said Oct. 26.
These JV contracts were signed with Metapetroleum, an affiliate of Pacific Exploration & Production Corp.
Ecopetrol and Pacific will continue jointly handling activities and initiatives with the goal of optimizing operations, infrastructure and social responsibility endeavors in the production areas of Llanos Orientales.
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