Amerisur Resources Completes Construction on OBA Pipeline

Source: www.gulfoilandgas.com 10/3/2016, Location: South America

Amerisur Resources Plc is pleased to provide an update on its wholly owned OBA interconnector pipeline between Colombia and Ecuador. Construction is complete and all necessary instrumentation testing has been successfully completed. The full documentation of the line systems, together with the successful testing results have been delivered to SHE / ARCH, the regulatory bodies of Ecuador. As soon as ARCH issues the decree to begin operations pumping will begin at an initial rate of 1,500 BOPD.

Cash opex costs per barrel are expected to reduce from approximately $26 to under $15. In addition to the cost savings, Amerisur OBA and SOTE (Ecuadorian pipeline to the coast) exported crude will receive Oriente plus a quality compensation factor, which has historically approximated to WTI pricing. Current trucked production is sold as South Blend, which is at a discount to WTI.

The Company will provide a further update once oil exports commence.


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Related Categories: General  LNG Carriers  LNG Terminal  Natural Gas Storage  Oil and Gas Pipeline  Oil Storage  Railways  Tank Truck  Tankers 

Related Articles: General  LNG Carriers  LNG Terminal  Natural Gas Storage  Oil and Gas Pipeline  Oil Storage  Railways  Tank Truck  Tankers 


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