State-controlled oil giant Ecopetrol took over operation of the Recetor oilfield in Colombia this week after the expiration of its contract with Equión Energía. Assuming control of the field will add around 4,500 barrels of oil per day to the company’s output, according to Ecopetrol.
Though the Bogotá-based Equión Energía, which was founded as an arm of BP nearly a half-century ago, is a controlled subsidiary of Ecopetrol, Spanish energy company Repsol holds a 49% stake in the firm, according to BN Americas.
Located approximately 200 miles northeast of Bogotá near the town of Aguazul in the department of Casanare, production began at Recetor in 1989. It has produced a total of 83.1 million barrels of oil in the nearly three decades since coming online, reaching a peak of nearly 34,000 barrels per day in 2002 before beginning to recede in recent years. It has also produced more than one trillion cubic feet of natural gas since its inception.
The field has seen around $725 million USD in capital investments over its lifetime, according to Ecopetrol. Over the years, Equión and BP have partnered with Ecopetrol on work to expand the field northward into a cluster that now includes operations at Cusiana and Cupiagua. Ecopetrol will continue to operate Recetor in conjunction Cusiana and Cupiagua.
Photo: Campo Recetor in Casanare, Colombia. (Credit: Ecopetrol)